We refinanced our home in June 2020, and we paid points. We got 3x 1098s, 1x from the old mortgage company with the first half of the years interest, 1x from the new mortgage servicer with the other half of the years interest, and 1x from the mortgage company with 8 days of interest. None of the 1098s show the points.
Per the instructions in Turbotax, it looks like I should put in each of the 3x 1098s and another one for the points, is that right?
The mortgage is over $375,000.
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Please see What do I do if I have multiple 1098s from refinancing my home debt? to enter your 1098 forms.
For additional information:
Possible Itemized Deductions are:
Standard deductions for 2020
If I combine all of the 1098s into 1, then who do I put in as the lender? I have 3 different lender names.
I suggest you post the most recent lender. They hold the mortgage now and you will have information from them next year.
I have the same issue. I combined all the 3 1098's interest/property tax info and used the information for the origination from the original 1098. I entered a separate 1098 for the points we paid with the refinance in 2020
Points on Loans on New Loans: You will want to enter a separate 1098 to cover these points paid. When prompted, enter 0.00 for Boxes 1, 2, 5, and the Property (real estate) taxes box, and checkbox 7, as you’ve already entered the details on your first 1098. For Box 3, add the date in 2020 when the loan originated.
But my confusion still lies with the proceeding questions - Was this loan paid off or refinanced with a different lender in 2020? Yes or No - How do I answer.
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