I refinanced this year myself. Refinanced the original loan back in October 9th 2020. The new refinance loan company then went on to resell my loan effective 12/3/20 to a new loan servicer so I ended up with 3 1098's for 2020 tax year. The kicker is neither the new loan company or the new servicer who acquired my loan on 12/3/20 reflected the Property Taxes paid in November 2020 (I am in Oregon) so I had to literally confirm that my taxes were indeed paid on the County tax website. I set up an escrow account so wasn't too worried about this but still annoying the original refinance company did not reflect the Property Taxes paid on the 1098 they provided me. Anyways back to the MAJOR BUG in TT. I entered all 3 1098's EXACTLY how they read. No matter what I did the moment I entered the 3rd 1098 (the new servicer who acquired the loan as of 12/3/20) my State refund took a HUGE hit and my Federal refund amount went down a few hundred dollars. My workaround (whether right or wrong or risking IRS scrutiny) was to amend the Outstanding Mortgage Principal from what the original refinance companies 1098 form showed (well below any threshold amount of $750K etc.) to $0. Everything else I entered matches exactly what the 3 1098 forms reflected to the tee (total interest paid, points, origination date, mortgage acquisition date etc.). For some reason TT is adding the 2 loan amounts up disqualifying you from using the Itemized Deductible and recommending Standard Deduction. This is a Class Action lawsuit just waiting to be filed. 100% accuracy my a$$. As a side note I tried using Credit Karmas FREE (both Federal & State) e-tax online program and it did the same exact thing once I entered the 3rd 1098!!!!!! Not surprising since TT (Intuit) purchased Credit Karma. I will NOT be using TT next year and will use Credit Karma to file my taxes FREE for both State & Federal since it's essentially the same thing as TT (minus some bells N whistles most of us do not need)!!!!!
