Tax Year 2016: I refinanced my home mortgage in 2016, so how do I enter information from 2 forms 1098 Mortgage Interest Statements?

azorchids — Fri, 28 Apr 2023 15:38:25 GMT

You will Add a Lender for the second Form 1098. It goes...

KarenL2 — Thu, 06 Jun 2019 01:10:06 GMT

You will Add a Lender for the second Form 1098. It goes in the same area as your regular mortgage interest. When you enter the new mortgage interest, the software will ask you questions about the new loan and you will be able to select that it was a refinance.

Federal Taxes tab (Personal in the Home and Business Version)
Deductions and Credits
Your Home
Mortgage Interest and Refinancing (select Add a Lender if you have already entered one)

You can deduct any interest or real estate taxes on your Settlement Statement that are not already included on your Form 1098. Only pro-rated amounts can be deducted, not prepaid amounts held for escrow.

Also, you can deduct qualified points paid on a mortgage, but they have to be spread out over the term of the loan. The software will prompt you to select that. (Points can also be called loan origination fees, maximum loan charges, discount points, or loan discount.)

What kinds of refinancing costs can I deduct?

https://ttlc.intuit.com/replies/3300426

topic Tax Year 2016: I refinanced my home mortgage in 2016, so how do I enter information from 2 forms 1098 Mortgage Interest Statements? in Deductions & credits

Tax Year 2016: I refinanced my home mortgage in 2016, so how do I enter information from 2 forms 1098 Mortgage Interest Statements?

You will Add a Lender for the second Form 1098. It goes...