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Double counting of refi mortgage principal balances
I have 2 1098s as a result of refinancing a loan in 2020. When both are entered into TurboTax the system double counts the balance which limits the overall amount of deductible interest.
Also, I need to make sure the new 1098 inputs so that it is flagged as a refi of a 2015 loan. This way the loan will be subject to the old $1M limit and not the new $750K limit.
How should I enter these 1098s to solve both of these problems?
‎January 22, 2021
8:44 PM