Sorry, but I already went down the road you suggested before I realized that was not the optimal way to go in my situation. I am following this advice from another expert on this forum (it's also spelled out directly in the TurboTax Help section):
"
If you refinanced last year, you’ll have a Form 1098 from your previous lender and one from the lender you refinanced with. You’ll need both forms.
Follow these steps to enter your mortgage information:
- Gather all of your 1098 forms related to your refinance
- (the form from your original lender and the form from your new lender)
- Grab a calculator and add together the box 1 amount from each form.
- Enter the total in TurboTax as Box 1 Mortgage interest.
- Add the Box 5 amount from each form and enter the total as Box 5 Mortgage insurance premiums.
- (If you weren’t required to pay mortgage interest, these boxes will be blank on your forms and you won’t enter anything.)
- Add the property tax paid from each form and enter it in the Property (real estate) taxes box.
Next, finish adding info for boxes 2, 3, 7, and 11 using Form 1098 for the original loan.
What if I have more than two 1098s?
You should combine all of the 1098s directly related to the refinance and enter it as one 1098. An example of this is if you refinanced two loans into one loan. Any 1098s not directly related to the refinance should get entered separately."
I have done all that, but am stuck on how to characterize the Lender on this combined 1098.
