I have 3 1098s for my mortgage because of a refinance in 2020. I didn't realize this was an issue before filing, how do I amend properly?

[comdude85]

Issue being because the total of box 2 from all 3 1098s exceeds $750k even though that's not an accurate reflection of what was paid off on the original loan, and the balance going forward. For the first 1098 (A) I think I'm fine - this is related to the original loan from 2018 that was paid off in 2020 for the refinance. However, then I have one 1098 from the start of the refinance (B), which has amounts in boxes 1 and 6, with one origination date in box 3 and no acquisition date in box 11. The second refi 1098 (C) is from when the broker sold the mortgage after closing - it has a different origination date in box 3 and an acquisition date in box 11, but no amounts in box 1 or 6. The mortgage principal in box 2 is the same on both. Does this mean I can safely "combine" them as TurboTax suggests, with a single 1098 with values in box 1 and 6 from the initial refi 1098 (B), the older of the two origination dates in box 3, and the acquisition date from the later 1098 (C) in box 11? This is really confusing!

[MaryM428 · Accepted solution]

In order to keep TurboTax from adding the amount of debt together and limiting the mortgage deduction allowed, you will combine the three 1098's following the steps below:

1. Add together the amounts in Box 1 and enter the total as mortgage interest
2. Add Together the amounts in Box 5 and enter the total as Mortgage Insurance Premiums
3. Add the property tax paid from each form and enter it in the Property (real estate) taxes box
4. Use the loan's original 1098 form to  add the amounts in Boxes 2, 3, 7, and 11 

Multiple 1098's Refinancing