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.
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Does the 1098 for the down payment have interest paid, too or just the down payment amount?
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'.
both 1098s have different interest amounts. The CORRECTED box for both 1098s is unchecked
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:
TurboTax FAQ: Where do I enter my 1098 mortgage interest statement?
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.
As long as the total amount of allowable interest is reported, it's good. The individual 1098 are not part of the 1040.
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