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Deductions & credits
Follow these steps to get the full interest deduction.
1. Delete both forms 1098 from TurboTax
2. Enter the oldest 1098 first
3. Be sure to indicate the mortgage was paid off
4. Next enter the new lender 1098
5. Indicate in box 11 the date the mortgage was purchased; should be the same as the origination date in box 3
7. Indicate this mortgage is the original as it is, it just got sold to someone else
Complete the mortgage area by clicking done and then the deductions area by clicking Wrap up tax breaks at the bottom. You will get to a graph comparing Standard to Itemized deductions. Under that graph is a hyperlink to show the itemized deduction breakdown. It should show all interest entered.
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March 3, 2020
10:57 AM