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Deductions & credits
My loan was sold and interest wasn’t included for the second lender. This worked to correct the total deductible interest from the 1098’s from both lenders. I knew the total amount of deductible interest for the year, but entered the total for the first lender only because the second wasn’t available yet and I didn’t calculate manually what the split between the two were. I was shocked when I corrected the amount for the first lender and added the second and the taxed due increased. I looked at the form and it didn’t include the deductible interest for the second lender. I searched for answers and this method was the first one to correct the program flaw. My mortgage was under $100k.
January 8, 2024
12:38 PM