While your work-around may produce the result you expect, there is a better way to enter these two 1098s and preserve the correct information for next year's tax return.
- First, delete the two 1098 entries you have made.
- Now, enter the 1098 for the current lender who purchased the original loan. Indicate that this is the most recent 1098. Answer all questions related to this mortgage, which is not a refinance.
- Then enter the 1098 for the first lender, including points and all other information. Mark this as NOT the most recent. Be sure you answer any questions regarding the use of those funds and how you wish to handle the points.
- Continue to the end to save your entries.
Review the result for your deductions to confirm the numbers are as expected.
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