I think the program thinks that your new home is a refinanced loan and not an original loan. Here is how to enter correctly.
- Assuming you are working on your 1098 on your new home.
- After you enter the mortgage interest, balance, and loan origination date there is a question that asks Did you pay points in 2020 when you took out the loan? Here you will choose the first option, I paid points when I purchased or refinanced to improve my main home in 2020.
- The screen asks Tell us about the points you paid. pick the option that pertains to you. then a drop-down will occur asking you what amount your points are.
- Next question, Was this loan paid off or refinanced with a different lender in 2020? No
- Answer the next question.
- The next screen says Is this loan a home equity line of credit or a loan you've ever refinanced? Here you will answer that this is an original loan you used to buy or build your house.
- Next screen will show you what your deduction is, which includes both home and the full amount of the points that you just reported.
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