Which amount for points paid should I enter when Closing Disclosure for new loan says I paid points but Form 1098 says I didn't (loan sold to another bank after closing)?

The Closing Disclosure for the new home loan I took in 2018 said I paid points (origination charges). Specifically, in the Origination Charges section, it states the Borrower-Paid Origination Fee at closing was $x,xxx.xx and before closing was $x,xxx.xx.This information was provided on a standard form and not was created by the mortgage lender.

Within 1-2 weeks following closing, I received notification that the loan was then being serviced by a different bank. This bank sent me a Form 1098 a few months ago and indicated in Box 6 that the points paid on purchase of principal residence was $0.00. Can I enter the amount provided in the Closing Disclosure? Or, do I need to contact our current loan servicer and ask them to fix the information in Form 1098 and send us a new copy?

999

Expert Alumni

Jun 6, 2019 1:53:23 AM

You can deduct the points you paid at closing if they are listed on the closing statement as a percentage of the loan amount. They do not have to be on the Form 1098.

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Which amount for points paid should I enter when Closing Disclosure for new loan says I paid points but Form 1098 says I didn't (loan sold to another bank after closing)?