If you look at your sch E form, you will see the IRS only wants the total of the interest. There is no refinance place on sch E but there is in the program.
- Return to your rental property, edit
- Scroll down to rental expenses, edit
- Walk me through everything, select
- continue through passing your entered items, including mortgage interest, done
- Other interest, continue
- Did you refinance? Yes
In the mortgage interest section:
Enter the mortgage interest shown on Form(s) 1098 issued with your name and your Social Security number.
You may have more than one Form 1098, from different lenders, if you refinanced your first mortgage, or your mortgage was sold.
Include any interest from an equity loan or home equity line of credit (HELOC) secured on this property.
Points in the refinance section:
Charges paid by a borrower to get a mortgage.
Points are also called:
- Loan origination fees
- Maximum loan charges
- Loan discount
- Discount points
The borrower is considered the payer of the points when a seller pays for the borrower's mortgage.
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