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rustyro1
New Member

Do I need to go back and amend because I said yes to the question that asked if I had refinanced my home. I did but 10 years ago.

I put yes down when asked if I had refinanced my house and yes to it being secured by the address, and it was a VA loan where I didn't have to pay points. But it was about 10 years ago when I refinanced it. So I'm wondering was the question for only this year? I don't remember seeing this question in the past years. Do I need to amend something?

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DanielV01
Expert Alumni

Do I need to go back and amend because I said yes to the question that asked if I had refinanced my home. I did but 10 years ago.

You don't need to amend.  It is a new nuance for this year that is required to appear on your form 1098, and is an adjustment in tax law starting in 2018 because of the Tax Cuts and Jobs Act.  In essence, mortgage interest that is not acquisition interest (in a nutshell, is interest on a part of the loan not used by the home itself), it is not deductible.  But this question does not affect prior tax years, so you don't need to worry about amending the return this year.

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1 Reply
DanielV01
Expert Alumni

Do I need to go back and amend because I said yes to the question that asked if I had refinanced my home. I did but 10 years ago.

You don't need to amend.  It is a new nuance for this year that is required to appear on your form 1098, and is an adjustment in tax law starting in 2018 because of the Tax Cuts and Jobs Act.  In essence, mortgage interest that is not acquisition interest (in a nutshell, is interest on a part of the loan not used by the home itself), it is not deductible.  But this question does not affect prior tax years, so you don't need to worry about amending the return this year.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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