It tripled your mortgage balance and that is not right. We are not going to allow this, at least not on my watch. Here is a solution that will resolve your dilemma.
- Enter the first 1098 from you original loan exactly the way it is listed on the form.
- For the refinanced 1098's, enter those exactly the way they are recorded EXCEPT for one thing.
- In box 2, indicate the mortgage balance is 0.This will insure your Mortgage balance is reported at $600,000 and not $1.8M.
- You should now be able to claim the full $21K in interest.
[Edited 02-28-2021|01:14 PM PST]
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