turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Elfor
Returning Member

Multiple 1098s from changes to loan servicing

I have three 1098s. Two are for a mortgage because my lender sold my loan. The third is a HELOC.

How I entered them:

1. First 1098 (loan with servicing change): I indicate that it's not the most recent 1098, and the loan is not a HELOC or refinance.

2. Second (current) 1098: I indicate it's the most recent, and that the loan is not a HELOC or a refinance.

3. Third (HELOC) 1098: I indicate it's the most recent and that it's a HELOC.

 

When I view the Home Mortgage Interest Limitation Smart Worksheet, Box A is checked Yes, indicating a loan refinance, which is not correct.

 

It seems the software is unable to handle this situation. Any advice on how to modify these entries so the tax is calculated correctly? I am seeing community posts from previous tax years about this issue, but no definitive answer on a workaround.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
PatriciaV
Expert Alumni

Multiple 1098s from changes to loan servicing

Please clarify which Form 1098 is marked as a refinance with a new 1098. 

Sometimes this box is checked when you say this is not the most recent 1098, even though it's not a refinance.

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

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies