IN JULY OUR MOTORHOME WAS DESTROYED BY A TREE. WE PAID INTEREST ON THIS LOAN THAT WE WANT TO DEDUCT. PLUS WE PURCHASED A NEW MOTORHOME THAT WE WANT TO WRITE OFF THE INTEREST. HOW DO WE DO THIS WITH TWO LOANS?
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You can enter both 1098 forms that you have even if the loans each are on two separate homes, since each was your primary home at the time.
Enter the older loan first, then the newer, but for each you would select primary home and original loan as long and the second loan was used only for the second motorhome.
ISSUE IS WE HAVE A PRIMARY HOME WITH INTEREST
MOTORHOME 1 WAS SECOND HOME (DESTROYED DURING HURRICANE IN HOUSTON IN JULY)
MOTORHOME 2 IS NOW OUR SECOND HOME
ALL 3 HAVE INTEREST
HOW DO WE PUT ALL 3 IN?
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