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Level 3
posted Mar 31, 2020 5:19:48 PM

Mortgage re-financed, what should I select in this TurboTax screen pleasee?

Hi there

I re-financed from Lender A to Lender B in 2019. I am still with Lender B.
While entering 1098 from Lender B, which option should I select please?

 

Thanks.

Thanks. 

0 3 654
1 Best answer
Expert Alumni
Apr 1, 2020 11:54:50 AM

If you refinanced your loan several years ago, you would answer these questions:

  1. Was this loan paid off or refinance with a different lender in 2019?  Answer No.

:

 

      2.  The next question you will get is, Is this loan a home equity line of credit or a loan that you've ever refinanced?  Answer Yes.

3 Replies
Employee Tax Expert
Mar 31, 2020 5:35:21 PM

You should select Yes, this is a loan I've refinanced....

 

You will then need to answer a few more questions as to how the funds were used, what type of loan it was, etc.

Level 3
Apr 1, 2020 9:11:06 AM

So, that means I will select "Yes this is the loan I refinanced" in Lender A as well? As even Lender A was a refinance from another Lender several years ago, right?

 

Thanks so much.

Expert Alumni
Apr 1, 2020 11:54:50 AM

If you refinanced your loan several years ago, you would answer these questions:

  1. Was this loan paid off or refinance with a different lender in 2019?  Answer No.

:

 

      2.  The next question you will get is, Is this loan a home equity line of credit or a loan that you've ever refinanced?  Answer Yes.