"Is the 1098 you're working on now, the most recent for your loan?"
"Is the original loan you used to buy your property?".
In July 2020 I pulled cash on a refinance of my primary residence from lender A. Then, in December 2020 I got a HELOC from lender B. I took the cash from the refinance and the cash from the HELOC and used it as a down payment toward the purchase of a second home, from lender A.
That being said, when entering the 1098 from lender B for my HELOC, do I answer yes or no to the above two questions? ("is the 1098 you're working on now, the most recent for your loan" ?"Is the original loan you used to buy your property")?
I am aware that none of the the mortage interest for any of these 3 1098's are deductibe because I used the funds on a house other than the home they are secured by- So am I wasting my time by entering in my 1098's in this section? Or is it still necessary to enter because all 1098's are reported to the IRS?
