My mortgage was transferred to a new servicer in September, so I have two 1098s for mortgage interest for my primary loan this year. Need some guidance to ensure that I am entering my data correctly.
For the old servicer:
What do I enter for the ending mortgage balance? Do I enter the amount that was transferred to the new servicer, or do I enter $0? Or should I enter the date that the transfer was effective on, even if that technically isn't a "payoff date"?
For the new servicer:
- Box 2 is blank on the 1098 I received, but Smart Check threw an error and demanded that I enter a start-of-year mortgage principal amount. Should I enter the amount from the start of the year, or should I enter the amount at the time the new servicer received the loan? (I am guessing the latter.)
- When asked if this is the original loan I took out to purchase this property, what should my response be? I'm guessing to answer Yes because this is neither a HELOC or a refinancing situation.
