Refinanced Home

2 replies
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I refinanced my home several years ago. every year when I do my taxes, Turbo Tax asks if this is a refinanced loan. I don't know whether to continue marking yes every year. The loan itself was refiniced from my original home loan, but it isn't being refinanced every year. Should I continue marking refinanced every year when it asks?

CGTaxesAnswer

Level 2

Thank you so much for taking the time to respond to my question! Your answer was extremely helpful, and I copied it and saved it for future reference.

zomboo

Level 7

Your current loan is a refinance of your original mortgage. It is not itself a refinanced loan.

When asked 'Was this loan payed off or refinanced with a different loan?' Answer NO

'Is the 1098 you are working on the most recent for your loan? YES

'Is this loan the result of refinancing a previous loan': YES

You will be asked if you took money out pay for other things and might be asked to enter the date and amount of your original mortgage.

CGTaxesAuthorAnswer

Level 2

Thank you so much for taking the time to respond to my question! Your answer was extremely helpful, and I copied it and saved it for future reference.