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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- Deductible Home Mortgage Interest Worksheet
Deductible Home Mortgage Interest Worksheet
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Belinda3
Level 1
01-18-2021
09:58 PM
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Has anyone experienced inaccuracies on computation of allowable home mortgage interest when entering two mortgages above the 750K amount? ie refinance.
If so, what tools do you use to ensure accurate interest is deducted?
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1 Comment 1
dascpa
Level 11
01-19-2021
01:44 PM
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I have found that the worksheet has many flaws with multiple mortgages, paid off mortgages, mortgages that are transferred to a new lender the day after settlement, etc. I developed my own Excel worksheet to do the calculation and then see if I can get the ProSeries worksheet to match. If not, I use my Excel as I trust that more.
