1098 after remortgage

Groda2015 — Sat, 05 Feb 2022 15:18:06 GMT

We remortgaged the house Dec 2020 from the same bank. We received 2 1098 forms.

one of the forms has box 1 filled for interest. In box 2 it states zero and box 3 has 12/29/20for the date.

Turbo will not allow me to have zero in box 2

The other form has 1 and 2 filled in and the origin date has 4/25/2014

Re: 1098 after remortgage

DMarkM1 — Sun, 06 Feb 2022 14:17:03 GMT

That is correct box 2 cannot be zero as there would be zero interest paid in 2021 on a loan that had zero principal balance in 2021. Since the date in box 3 is 12/29/2020, the Box 2 amount should be the mortgage principal amount on 1 Jan 2021.

With such a small difference between the loan date and 1 Jan, the amount in box 2 should be the amount of the new loan . You can look on your closing documents or contact the mortgage holder to get the amount.

topic 1098 after remortgage in Deductions & credits

1098 after remortgage

Re: 1098 after remortgage