The original loan balance was always 218,000, so that is what you will enter for both.
You need to report how much of the 53,000 (271,000-218,000) went to the home.
Enter the older 1098, the outstanding principal as of 1/1/2018 should be in Box 2
Was this loan paid off or refinanced with a different lender
in 2018?
YES
If you paid off your loan this
year, we need its final principal balance. This is the amount you owed before
you made your final payment, without interest included.
enter whatever that was (around 230,000)
Is this loan a home equity line of credit or a loan you've
ever refinanced?
Answer "Yes" it was a refinance
Take out
cash?
Yes, (around 15,000?)
Answer how much was used on the house
Enter the second 1098
Box 2 should be blank if it was refinanced in 2018, the program may show an error, but if you enter a 2018 origination date, you can move forward.
Was this loan paid off or refinanced with a different lender
in 2018?
NO
Is this loan a home equity line of credit or a loan you've
ever refinanced?
YES
Which one?
Refinanced
Take out
cash?
Yes, (around 41,000?)
How much of this was used on the house?