I have 3 1098's for 2020. Two are for the primary mortgage which I refinanced in late 2020 and the 3rd is for the 2nd mortgage (Home Equity Loan) which was NOT refinanced. I've indicated on each that a 1098 was received; however, on the Home Interest Worksheet, it is showing only the HEL as being reported on a 1098 (line 8a). The other 2 are indicated as not having been reported on a 1098 (line 8b). Why is it doing this and does it impact how or how much of the mortgage interest is considered deductible?
It won't affect your tax return at all. The mortgage interest is deductible even if not reported on a form 1098. I would have to see your tax return to comment on why it is being reported that way.
Thank you, ThomasM125. I would love to show you my tax return, but since I can't upgrade from my Costco TT purchase to a TT Live version, I'm not sure how I can do that.