JohnB5677
Expert Alumni

Deductions & credits

If you have multiple 1098's because your bank sold your loan to another bank it can be confusing.  

  • Report the interest on the first bank loan.
    • The balance of the loan will be zero
  • Report the interest and information on the second bank
    • The balance will be your outstanding balance
    • This will still be the original loan (Not a refi or line of credit)

  

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