A client has refinanced their home and the refi paid off credit cards and a personal loan, approximately $35,000. Is there a worksheet in ProSeries basic or somewhere else to figure out the interest that can not be written off?
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Look at it again. When it says "Worksheet To Figure Your Qualified Loan Limit and Deductible Home Mortgage Interest For the Current Year" -- isn't that what you're trying to do, figure the deductible home mortgage interest? Page 13 discusses "mixed use mortgage." That's what you have.