I have my closing statement so I have the origination fee amounts and prepaid interest and taxes, but was wondering if I will still get a 1098 from first lender if I never made a payment to them.
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No, you will not receive a 1098 from the 1st lender if no payment was collected by them. That's what a 1098 reports-collected interest received from a payment.
It is common for new loans to be sold to another lender immediately, as some lenders don't want to carry the note themselves.
Other Items on closing disclosure form that may be deductible:
Other fees, such as commissions, attorney
fees, preparation of deed, abstract fees, owner title insurance, recording fees
are added to the basis of your home, and not deductible.
https://www.irs.gov/pub/irs-pdf/p936.pdf
No, you will not receive a 1098 from the 1st lender if no payment was collected by them. That's what a 1098 reports-collected interest received from a payment.
It is common for new loans to be sold to another lender immediately, as some lenders don't want to carry the note themselves.
Other Items on closing disclosure form that may be deductible:
Other fees, such as commissions, attorney
fees, preparation of deed, abstract fees, owner title insurance, recording fees
are added to the basis of your home, and not deductible.
https://www.irs.gov/pub/irs-pdf/p936.pdf
So, where do I enter the points in TurboTx I paid in the exact scenario above? I did get the 1098 from the second lender (the one that picked up the loan nearly immediately after closing). It wasn't on that second lender 1098 obviously. Thanks!!
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