I have two 1098 forms with selling a house with one lender and buying a house with a new lender in 2020. Do I put both 1098s/lenders in the home loan deduction center with the actual amounts listed in all the boxes? Or do I calculate and put it all into one?
For example (what I have right now inputted):
Lender A (of sold house): Put full amount for mortgage interest, outstanding principal (~$160k), origination date, mortgage insurance premiums, and real estate taxes.
Lender B (of newly purchased house): Put full amount of mortgage interest, outstanding principal (~$275k), origination date, mortgage insurance premiums
And then submit both?
OR do I need to do calculations and adjust the outstanding principal amounts on both lender A and lender B forms in TurboTax? Since they are with two different lenders, I do not know if I should do calculations like the "help guide" says on TurboTax since I don't know which one to put then.
Thanks!
