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Deductions & credits
The loan balance from the first home should be $0 because it was completely paid off during 2022. Also, the loan balance for the new home original mortgage should be $0 as well. The balance from the current lender should be used for computing deductible mortgage interest.
Since you have multiple 1098 mortgage forms from refinancing or your lender selling the loan, you’ll enter them one at a time.
After going through the steps with the first one, you can add a lender when you get to the Mortgage deduction summary screen.
But, if they're both from the same lender, and one of them has the “Corrected” checkbox marked at the top, enter the corrected 1098 and discard or shred the other one.
For a refinance
For a loan that was sold
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March 29, 2023
8:35 AM