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Deductions & credits
You will combine the mortgage interest amounts listed in box 1.
You will not combine the outstanding mortgage balance. You will enter the outstanding loan balance as of December 31st as that would be the only loan still outstanding at the end of the year. The other loan no longer exists.
Please see the following link for additional information on entering the refinanced mortgage interest expense.
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March 3, 2021
10:48 AM