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Returning Member
posted Mar 26, 2024 12:21:49 PM

Multiple 1098s for primary residence (new home) one for primary mortgage other for down payment

I received 2 separate 1098s from my lender for the same primary residence.   One 1098 was for the down payment portion. The other 1098 was for the remaining mortgage balance.    This was a new home purchase.

0 6 1480
6 Replies
Expert Alumni
Mar 26, 2024 12:58:56 PM

Does the 1098 for the down payment have interest paid, too or just the down payment amount?

Level 7
Mar 26, 2024 1:06:41 PM

If both are from the same lender and one of the 1098's has the 'corrected' box checked, only enter the corrected 1098. Otherwise enter the down payment 1098 first and select 'Not the most recent 1098' when asked. Then enter the second 1098 and select 'most recent 1098'.

Returning Member
Mar 26, 2024 1:59:47 PM

both 1098s have different interest amounts.   The CORRECTED box for both 1098s is unchecked

Expert Alumni
Mar 26, 2024 2:14:46 PM

Then enter them as suggested.  First enter the 1098 with down payment information (indicating that it is not the most recent 1098).  Then enter the 2nd 1098 with the mortgage information (and indicate that it is the most recent 1098).

 

To enter your 1098:

  1. Open or continue your return in TurboTax.
  2. Select Search, enter 1098, and select Jump to 1098. If that doesn't work:
    • Select either Tax Home or Federal, then Deductions & Credits.
    • Under Your Home (you may have to select See all tax breaks to find it), select Start or Revisit next to Mortgage Interest and Refinancing (Form 1098).  (You can click on the wastebasket icon to delete a 1098.)
  3. Answer Yes on the screen Did you pay any home loans in 2023?
  4. On the Let's import your tax info screen, enter the name of your lender to see if you can import your 1098.
    • If you can't or don't want to import, select Change how I enter my form to upload, take a picture of, or manually enter your 1098.
  5. Continue through the screens until your 1098 is added.

TurboTax FAQ: Where do I enter my 1098 mortgage interest statement?

Returning Member
Mar 26, 2024 2:23:11 PM

Both 1098s are from the same lender, so I'm not able to enter both 1098s separately.   I ended up combining the necessary amounts from both 1098s and entering this combined amounts into the turbo tax worksheet fields.   Not sure this is the proper way to handle this situation, but it allowed me to get around the issue.   If this was incorrect or presents potential audit issues, please let me know.

Expert Alumni
Mar 26, 2024 2:34:02 PM

As long as the total amount of allowable interest is reported, it's good. The individual 1098 are not part of the 1040.