1098s

Forum|Forum|2 years ago
February 4, 2024
4 replies
21 views

I have mutiple 1098s after a refinance. The turbotax question - 'Which is the most recent'. Does this mean most recent for the home (meaning the new mortgage I would answer yes and old/paid off mortgage I would answer no. Or does this mean the most recent for each loan, meaning I would answer yes to both the new and old morrtgage?

JulieS

Level 15

Yes, this question is asking which is the most recent loan.

For example, you loan started with Bank A, was sold to Bank B, who sold it before the end of the year to Bank C. Bank C is most recent.

The questions are phrased this way to determine the amount of mortgage debt you carried during the year. If your total mortgage debt is more than $750,000, some of it may not be deductible.

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rh1956Author

Level 2

thank you. if loan A (old mortgage) was off when loan B (new mortgage) was taken out. 1098s for A is the final one for that loan as it was paid off by loan B. I know I answer yes for latest 1098 for loan B but Do I answer no or yes for latest 1098 for A (the paid off old mortgage)?