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Home loans
This might be because of the manner you reported the 1098's. Try this to see if this works.
- For your house loan, report the original 1098 the way that it is recorded, including the mortgage principle balance in Box 2.
- For the second 1098, report it the way that it is recorded, except leave Box 2 blank. This is the same loan but we don't want to combine the mortgages, which may have put it over the $750K threshold.
- Report the RV 1098 in the manner it is recorded on the form, including the amount in Box 2.
- Let me know if this works.
Note: If you took money out of your refinance and did not spend it on your home, you won't be able to claim mortgage interest on that amount that you didn't use for the home. I mention this because this may have been another reason why your mortgage interest was limited.
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‎April 6, 2022
9:24 AM