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Level 2

Question

Two 1098 Forms with Points on both forms

Forum|Forum|1 year ago
February 1, 2025
4 replies
41 views

I am filing my 2025 taxes and inputting my mortgage 1098 forms, for which I have 2 since the loan was sold very quickly after the home purchase. Both of my 1098 forms have points listed in box 6 and it appears that turbotax is double counting the points from both 1098 forms. What is the best way to resolve this?

1. Enter the latest 1098 form and capture the interest paid from both 1098 forms, check the box that states the amount entered is different than on the form?

2. Enter both 1098s but say that points were not paid for one of the 1098s?

I have a feeling if I do option 2, turbotax might just completely ignore my points as I have seen from other posts on the forums and the recommendation seemed to be option 1.

Level 7

Enter your 1098 points as shown on the forms but make sure to enter them in the order received. Indicate by checking or unchecking the appropriate box that the first 1098 is not the latest and that the second 1098 is the latest.

th3ngineerAuthor

Level 2

That is what I did originally that prompted me to make this post. It seems to count the points twice since both forms have the points listed on them.

Level 15

In TurboTax, there is no question asking "Were the points reported on the second Form 1098 also reported on the first Form 1098?"

It seems silly to me that the points would be reported on both Forms, since the interest paid is allocated.

Regardless, when using TurboTax, please enter the points on the first Form 1098.

If the first 1098 is for the original purchase, you will need to select how you wish to claim, all in one year, or throughout the life of the loan.

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