I refinanced my mortgage in May 2020, with a different lender for the new loan. I have two 1098s, one for old lender, one for new. I entered both, with the outstanding principal and interest reported on the 1098s. Then a clarifying tab on outstanding balances, with a field for balance and date paid off if paid off for each lender. For the old lender, since the loan was fully paid off, do I enter $0 for the balance? Its the only was the math works, but I want to make sure I'm not missing something. Entering the 1098 balance doubles the outstanding mortgage and reduces the deduction.
Thank you!
