Make sure that when you enter your additional 1098, it is entered separately from the first one you entered. Also make sure that you enter the information as it's on the forms, including the boxes about outstanding principal and repayment date.
Follow the steps below and make sure that the original loan that was sold, gets entered first:
- Sign in to TurboTax
- Select Deductions & Credits
- Select Show more next to Your Home and Start
- Revisit next to Mortgage Interest and Refinancing (Form 1098)
- Answer Did you pay any home loans in 2023? and Continue.
- Continue through and be sure to enter this 1098 exactly as it appears
- 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 the 1098 you're working on now the most recent for your loan?.
- On the next Let's get some details about this loan screen, answer Yes to Is this the original loan you used to buy your property?
- Select Continue to be taken back to the Your 1098 info so far screen.
Then enter the Form 1098 for the new loan
- On the Your 1098 info so far screen, select Add another 1098 and continue through to either import or enter your information manually.
- Answer the questions accordingly and complete your 1098 info exactly as it appears on your form.
- On the Let's see if this is the most recent form for this loan screen, answer Yes to Is the 1098 you're working on now the most recent for your loan?
- On the next Let's get some details about this loan screen, answer Yes to Is this the original loan you used to buy your property? Even though the loan is with a new lender, it's still considered the original loan for this calculation.
- When you're all done, you'll see both your forms on the Your 1098 info so far screen. You can continue through to finish and file your return.
How do I handle multiple 1098 mortgage forms?
