Can you deduct capitalized mortgage interest on a home loan that was pain off and refinanced with another bank.

russ_ter · ‎June 4, 2019

The bank added unpaid interest to my balance when I refinanced with another lender and I received a 1098 with the capitalized interest added to the regular interest paid.

Vanessa · ‎June 4, 2019

Yes, you can deduct the capitalized interest that was paid off by the refinance. After you enter your first 1098 you will say Yes to I have another 1098 to enter and enter it separately from the first one. You do not add the numbers together.

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Vanessa · ‎June 4, 2019

Yes, you can deduct the capitalized interest that was paid off by the refinance. After you enter your first 1098 you will say Yes to I have another 1098 to enter and enter it separately from the first one. You do not add the numbers together.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Can you deduct capitalized mortgage interest on a home loan that was pain off and refinanced with another bank.