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Mortgage Interest Deduction in case of refinance in 2019
The home mortgage was refinanced in AUG 2019. I entered the figures in Form 1098 from the old mortgage and ones from the current mortgage in TurboTax. Since outstanding balance of those two 1098 shows around 600k, somehow this software indicates my total loan is over 1.2M. There is no question coming up to ask if the old mortgage is paid off in the TurboTax. I deleted several times for mortgage interest deduction section and tried it again and again but it kept showing something wrong. Please advise how to proceed. The only way which I think correct is to enter $1 outstanding balance for the old mortgage.
‎January 31, 2020
8:54 AM