Refinance settlement statement
Showing results for 
Search instead for 
Did you mean: 
Returning Member

Refinance settlement statement

I refinanced twice last year and my loan was sold once. So I have 4 1098's. The settlement statements that I received from the title company for both refinances included interest that was pre-paid and property taxes but these amounts don't show up on the correlating 1098. How to I add those amounts in?

1 Reply
Level 15

Refinance settlement statement

If the prepaid interest is not included in the 1098s, you can enter the 1098 and check the box for "the amount of interest I am claiming is different than on the 1098".  Enter the total amount (in other words, for lender A, add the amount prepaid to lender A to the regular interest included in the 1098; do the same separately for lender B, etc.)  You will be given a space to write an explanation.  Keep it simple.  Keep your proof in case the IRS sends a letter asking for more information. 

*Answers are correct to the best of my ability but do not constitute legal or tax advice.*
**If a post answers your question, choose it by clicking on "Mark as Best Answer".**
Privacy Settings