I have several 1098's because we had our loan with one company, then we refinanced and the company we refi'd with then sold our loan to another company. When entering the info the question that asks 'it is the original loan you took out to purchase the property?' ...do we answer yes for the initial loan and then do we answer 'no, it's a loan that's been refinanced' for the 1098 from the refi? Then what do we answer for the loan that we currently have, which is the one that was sold by the company we refi'd with?
We are having an additional issue following that question...turbo tax is saying that based on the info we provided, we most likely need to limit the deductible mortgage interest on our home acquisition debt. Basically it thinks that we have a loan balance that exceeds $750,000, which we most certainly do not. Im not sure if there is an issue with one of our 1098s and incorrect data on them, or if I am misunderstanding something. Any help please? Thanks much