Refinanced home in 2019 - Received two 1098 forms.
1st - Box 2 - outstanding mortgage 182,388 - Box 1 Interest 6408.04, Box 3 - 10/12/2010
Yes this loan is secured by property
Yes this is original loan
Re-financed in Oct 2019
Second form
2nd - Box 2 - Outstanding mortgage 230,000 - Box 1 Interest 1960.38, Box 3 - 10/15/2019
No points to deduct
Yes - loan is secured by property
No - this is a loan that's been refinanced
A mortgage loan that I've refinanced
Have you ever pulled cash out from this loan when refinanced? Yes
Have you used money on this home? No
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I am stuck at Help me figure this out!
How much spent to buy, build etc..? (I didn't spend any of the cash out on the home... but not clear what number I enter here)
Balance of mortgage loan on Dec 31, 2019 (I'm guessing this is the 230k - two months of payments? )
This loan was paid off during 2019? Shouldn't this question be on the first Loan?
I should still be able to deduct the interest paid on the 182,388 - but I don't see a way to just remove the 47k cash out in the calculations?
Any advice would be appreciated.
