Box 1. Add up all of mortgage intersest paid on mortgages. So add up amounts on all 1098 forms.
Box 2. Enter outstanding mortgage balance at beginning of year 1/1/2020 TT test to make sure not over $750,000 generally, if over $750,000 your interest deduction may be limited If over $750,000 need to calculate an average balance outstanding use IRS instructions.
Box 3. Date of original mortgage ordination date on property, that is, date of first loan on property. Has to due with $750,000 limitation or perhaps $1,000,000. See instructions.
Box 10 on 1098 or yourReal Estates tax bill: Add up all real estate taxes paid and enter in Property (real state) taxes paid box. On TT interest screen or enter through next TT window “Property Taxes”
so basically add up both interest paid and real estate taxes paid and enter as one 1098 in TT. I personally named the Mortgage Lender as a combined name (e.g. caitbank and Wells Fargo mortgages.
Post again if more questions. If below $750,000 TT should accept and enter the combined interest and real estate taxes paid as full deductible and transfer to Schedule A
Enter amount of original loan balance as of
