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Deductions & credits
Hi MaryM428,
I’m confused! JohnB5677 advised that I enter two 1098: Original 1098 first, then Refinance 1098. You advised that I enter one entry.
You wrote “Use the loan's original 1098 form to add the amounts in Boxes 2, 3, 7, and 11”
Q1: Does ‘add’ mean to enter? Box 2 (Outstanding Mortgage Principle) of the Refinance 1098 is more accurate because it was less than the Original 1098.
Q2: Box 3 (Origination Date) Original 1098 = 4/2/2018 Refinance 1098: 4/9/2020. When I enter 4/2/2018, TT calculated the Discount Points from 2018 which was not correct because the Discount Points was from the Refinance
Thank you!
March 30, 2021
8:12 PM