If I have two 1098 forms for the same loan due to original lender selling loan. Do I enter both? I purchased the home in 2023 and the points to pay down rate show on both

[barberb08]

The points paid in section 6 of the 1098 form are on both 1098 for the same home. When I enter both as is on Turbotax it calculates it twice and makes it look like twice what we acutally paid. Should I only enter the first one or the most recent one?

[Mike9241]

most likely yes. one will be for the period it had the loan the other will be for the period it had the loan. just check that the info makes sense. that the mortgage activity is being separately reported by the two lenders 

[barberb08]

The main thing I am concerned about is that they both show points. But we only paid points for the main loan we took out. It was transferred within a month after closing. Before I put the second 1098 in it showed that the standard was better and then after I put the second one in, the refund increased and stated itemized was better. I just feel like it is off. 

[zomboo]

I am using the desktop Turbo Tax and it doesn't ask to fill in Box 6 when entering data from the 1098. Instead, points are entered in a subsequent mortgage screen. When entering the 1098 info for each mortgage, Turbo Tax asks if it is 'the latest 1098'. The answer is No for the first 1098 and Yes for the second 1098. Are you making these selections?

Try entering the points on each 1098 first. Then only on 'the latest 1098' if that doesn't work.

[AnnetteB6]

Since your mortgage was serviced by two different companies during the year, you should enter both Form 1098s.  

However, since you know you only paid points to the original mortgage company, check the points reported on the original company's 1098 and see if it matches the amount you know you paid at closing.  If it matches, enter the points information only with that original company's Form 1098.  If the amount does not match and the total points would be the two 1098 points added together, then enter the points from both 1098s.  

You will get credit for the total points paid once and mortgage interest paid to both companies.

@barberb08 

[barberb08]

Thank you! I did enter both and I did also mark that one was the most resent but the other one wasn't and it still doubled the amount. So I only typed it in once to make sure it doesn't calculate it twice. Because after the second one was counted and it doubled my refund went up and I don't want any issues like that!