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C
cmeder5-gmail-co
Level 3
February 14, 2021
Question

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

  • February 14, 2021
  • 1 reply
  • 7 views
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 reply

itonewbie
itonewbie
Level 15
February 15, 2021

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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