I refinanced in 2021 and have 3 1098 forms - the original, the new lender, and the lender that then bought the loan. Points are reported on the second and third forms.

I refinanced in 2021 and have 3 1098 forms - the original, the new lender, and the lender that then bought the loan. The points I paid are reported on BOTH the second and third forms. When I enter the 1098 forms, TurboTax is then calculating that I paid double the points that I actually did and is counting this double amount as a deduction. Is this ok? Or, should I record the points associated with only one of the 1098 forms?

308

Expert Alumni

Apr 3, 2022 2:55:28 PM

No, this is not okay. Yes, you should only report the points with one of the 1098s.

If two of the 1098 forms are reporting the same information on the same loan then you should not report the duplicate information. The company that bought your loan after you closed, should not have reported points. When entering the 1098s do not report the points on the 3rd 1098 if this is duplicate information.

New Member

Apr 3, 2022 2:58:26 PM

Thank you! This is what I needed to know!

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I refinanced in 2021 and have 3 1098 forms - the original, the new lender, and the lender that then bought the loan. Points are reported on the second and third forms.