Deductions & credits

Since you have multiple Form 1098 mortgage forms from refinancing you will enter them one at a time. If you paid points when you obtained the loan, no matter if it's the original loan or a refinance, you can get a deduction. Generally, this deduction is taken over the life of your loan. But, when you get a new loan, the points you are amortizing from the old loan can be deducted in full. You can also begin amortizing any new points you paid when you refinanced.

Below are the steps to follow:

Enter the original loan first:

1. Sign in to TurboTax and select Pick up where you left off or Review/Edit under Deductions & Credits.
2. Select Show more next to Your Home and Start or Revisit next to Mortgage Interest and Refinancing (Form 1098).
3. Answer Did you pay any home loans in 2022? and Continue.
4. You can either sign in to your financial institution and import your 1098 forms, or select Change how I enter my form.
5. Next, you can either upload a digital copy or Type it in myself.
6. Continue through and be sure to enter this 1098 exactly as it appears.
7. Answer the questions, and when you get to the Let's see if this is the most recent form for this loan screen, answer No to Is 1098 you're working on now the most recent for your loan?
8. In the next Let's get some details about this loan screen, and answer whether or not this is the original loan used to purchase your home.
   • If it was, answer Yes.
   • If you've previously refinanced and this wasn't the original loan, answer No, and we'll ask you a few more questions.
9. When you're done, you'll be taken back to the Your 1098 info so far screen.

To Enter Form 1098 for the New Loan please follow these steps  in the link below:

Form 1098 For New Loan

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