1098 Mortgage Interest Statements for Loan that was transferred from original Loan Provider

[TaxHelp285]

The home was purchased in May of 2023.  I have two 1098 forms.  One from the original Loan Provider and a second from the company that has picked-up the servicing of my loan.  Box 2 - Outstanding Mortgage Principal is blank on the form that was provided by the Original Loan Provider.  When I run the review tool on Turbo Tax it gives me an error and tells me there needs to be a value for this box.  What should be entered here?  The original amount of the mortgage or 0, since it was transferred to another company and the mortgage amount is reflected on their 1098 form?  

[LindaS5247]

When you entered your first Form 1098, did you answer "No" to the question "Is the 1098 you are working on now the most recent for your loan? And then "Yes" to "Is this the original loan you used to buy your property?"  

When you add your second Form 1098 answer "Yes" to "Is the 1098 you are working on now the most recent for your loan?" and "Yes" to "Is this the original loan you used to buy your property?"  

Your second 1098 is with a new lender, but it is still the original loan for this calculation.

You should enter your Form 1098 exactly as shown unless you believe it to be incorrect.  If you believe your Form 1098 is incorrect, you should contact the issuer of the form.

Click here for additional information on entering multiple forms 1098 into TurboTax.

Please feel free to come back to TurboTax Community with additional information or questions or click here for help in contacting Turbo Tax Support.