Deductions & credits

Yes, please enter all boxes as they come on the two Form 1098s. Because this is a loan that was sold, it is going to still be considered the original loan for interest purposes. Box 1 is the important entry here for your interest paments.

These questions are necessary for refinances and equity loans, where some people finance more than the original loan and use it for something other than the house. In that case, only interest for the part of the loan used for the home is deductible on Schedule A.

In some cases, when there is a loan over the limit of what is deducible, based on tax changes in 2018, and there are multiple Form 1098s, then we do recommend combining the forms. However, your case is a sold mortgage, so we do not have to use that option.

This TurboTax Help article explains multiple 1098 forms. In this article, there is a link to another article that discusses refinances when you might need to combine forms, just so you can see that it is not the case with your forms. Multiple 1098 forms
 

If you have any flags in review after entering the forms as they are shown, it would help our research to have a diagnostic file. This is a sanitized copy of your tax return that has all of your personal information removed but still has all of the forms and numbers entered. You can send one to us by following the directions below and posting the token number here so we can access the sanitized return.

 TurboTax Online:

1. Sign in to your online account
2. Click on Tax Tools on the left toolbar
3. Select Tools
4. In the pop-up screen, click on "Share my file with agent"
5. Click OK on the message that a diagnostic file will be sanitized and transmitted to us
6. Please post the Token Number

TurboTax Desktop/Download Versions:

1. Open your return
2. Click the Online tab in the top menu bar
3. Select "Send Tax File to Agent"
4. Click Send on the message, and the tax file will be sanitized and transmitted to us
5. Please post the Token Number