In 2020 we refinanced for $270,000 part of which was a cash out, so we had two 1098s as expected. I have two questions on this.
Question 1: When going through TT it says with multiple 1098s and a refi amount of $375,000 or more to follow the given instructions. What to do if the refi was less? Do we follow the same steps? (Image from help below).
Question 2: For the cash out portion we used one third to pay for improvement work on the house in 2020. Am I correct that we do not include the interest from the other two thirds?
Thank you
