Answer - No this is a home equity line of credit or a loan that's been refinanced.
When you chose that answer there will be questions about how you used the money from the line of credit or refinance. When you refinance, the date of the refinance is what is then entered as the original loan amount.
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.
- Add together the amounts in Box 1 and enter the total as mortgage interest
- Add Together the amounts in Box 5 and enter the total as Mortgage Insurance Premiums
- Add the property tax paid from each form and enter it in the Property (real estate) taxes box
- Use the loan's original 1098 form to enter the amounts in Boxes 2, 3, 7, and 11
Multiple 1098's for Refinance
