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How do I limit the mortgage interest deduction? Client loan balance is 895K, can only use 750K.

The program says "Use the excess mortgage input section at the bottom of this screen if the TP is subject to these limitations.  I don't see anything labeled "excess mortgage"???
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1 Comment 1
itonewbie
Level 15

On the same screen (i.e. Deductions > Itemized Deductions (Sch A), on the tab for Interest), scroll down to the section for Excess Mortgage Interest, you will see all the input fields there for LOAN #1 to #4.

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