Mortgage points

[jhernandezc14]

I have two 1098's because my mortgage was sold. Only one (not the most recent one) is reporting the points paid at closing. However, when I enter both 1098's in TurboTax, with the points only on the oldest one, the software is not counting the points toward my itemized deductions and then is recommending the standard deduction. However, if I enter them in the most recent 1098 instead it does count them and recommends itemized. Does anyone know what's going on?

[AmyC]

The software is asking questions and trying to put things together for the Sch A form. The actual form only has the final figures. The IRS will just add together the 1098 forms they receive and compare it to your form. Put the figures in so that your Sch A is correct. The IRS will compare total points to your form. Enter them wherever to make the correct answer. You can say it is the latest form for both, that should make it work. However you get the right answer, is a good method.

About Schedule A (Form 1040), Itemized Deductions - Internal Revenue Service