Do previously amortized points in Turbo Tax automatically carryover or must the data be put in yearly?

[Movie1]

I refinanced last year, paid points and amortized using Turbo Tax. There are no points this year and my 1098INT also shows none. Will the computations last year carry over or must I go back to my 2021 filing and put that data in again?

[RobertB4444 · Accepted solution]

The computer should carry over any points that you have remaining that were on the 2021 return.  If there are any issues with the carryover you should double check the 2021 amount and make sure that it is correct.

@Movie1 

[Movie1]

@RobertB4444

Thank you very much. If I understand you correctly, I do not select spread the points out this year because it will be done considering last year's return automatically & This is an old loan: I am a vet with sleep issues so I am sending pics.  I greatly appreciate your help. God bless you.

[RobertB4444]

You did that fine - but that should be what you selected for last year.  Pull the 2021 return and see if the points are on there.  

@Movie1 

[Movie1]

Thank you for your encouragement.  I had two 1098INT forms from the same lender last year. The Old loan used prior to 2021 had no points in box 6. The new loan (refinanced) aquired1-25-21 had points. (I saw those on the wonderful worksheet). So, I am hoping that - If I understand- this year since there are no points in box 6 and it is an old loan, I choose I have no points for this loan? because it is not a new loan and TurboTax will work in the background using last year's data?

Or do I select to spread them and use the same points I put in last year? 

[Cynthiad66 · Accepted solution]

You should select I have no points for this year.

@Movie1