I refinanced my primary home in 2021 and then my mortgage got sold immediately right after refinance, and then my mortgage got sold again a few months later, so I have multiple 1098s. I am using Deluxe Online product
1. Do I enter these 1098s separately ?
2. I didn't get a 1098 from the lender who did my refinance because I paid less than 600 interest to them. But how can I still get deduction from the small amount of interest I paid to this lender ?
Yes, you will enter them separately. The $600 will be added to your other mortgage interest, so if your itemized deductions total more than your standard deduction you will still benefit form the small amount of interest paid.
Thanks.
When you mentioned "The $600 will be added to your other mortgage interest" do you mean I will just manually enter that small amount in "other mortgage interest" field in TT ? Or something else ?
@trapezewdc No you will not enter this manually other than what Vanessa A suggests in her previous response. You will enter the $600 mortgage interest as a 1098 (even though you did not receive one) and the program will take care of itself when it reports the interest paid.