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New Member
posted Jun 4, 2019 12:40:29 PM

How should I enter the beginning/ending balance for a mortgage that was sold to another lender (two 1098s)?

I have two 1098s and my mortgage was sold from A to B.

A's begging balance on 1/1/2018 is 500k and B's beginning balance on 1/1/2018 is empty on 1098.

How should I enter beginning/ending balance in Turbo Tax?

0 5 585
5 Replies
Intuit Alumni
Jun 4, 2019 12:40:30 PM

You would enter the starting balance shown on A's 1098.  

When your mortgage was sold to a new lender it did not affect your starting balance for the year.

Returning Member
Jun 4, 2019 12:40:32 PM

Even if lender B reported starting balance on 1/1/2018 as $0? Or would this require a corrected 1098 from lender B?

Returning Member
Jun 4, 2019 12:40:33 PM

What should the lending balances be? Lender A $0 and Lender B actual ending balance as of 12/31/2018?

Intuit Alumni
Jun 4, 2019 12:40:35 PM

No you do not need a corrected 1098 from lender b

New Member
Jun 4, 2019 12:40:36 PM

What should I enter for the ending balance of A and B?