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How to enter two 1098 mortgage interest statements for same loan

Thank you Amy and Diane for  your help.

this problem is solved after i go into the 540 Home Mortgage Interest Deduction worksheet and manually enter

$0 for end of year balance  on 1st 1098 (because the loan has gone to the new lender by year end)

$0 for beginning of year balance on 2nd 1098. (because the loan has existed yet)

 

With this, the average loan balance is correct and the deduction is correct.

Frank

 

AmyC
Expert Alumni

How to enter two 1098 mortgage interest statements for same loan

Thank you! I am so glad you were able to get through. It would be easier if we were sitting with you!

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Rlhendrich
Returning Member

How to enter two 1098 mortgage interest statements for same loan

@AmyC i have a similar issue, but when I look at my first 1098 (orig lender) my outstanding balance on line two is what I paid (we bought 07/2019). It was sold the next month, so the 2nd leader has what we paid MINUS our first principal payment on line 2. For example: 

lender 1 - line 2: 240,000

lender 2 - line 2: 239, 210

Does that mean one of the 1098s are incorrect?

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