Refinanced with multiple 1098s

[tomntoby]

I refinanced my mortgage around June of last year with a new lender.  I received three 1098s, two of which were from my original lender and the other from my new lender.  One of the two from the original lender lists Principal Paid in box 10 and the other has Principal Paid and Property Taxes listed in the box.  I do not know how to start or proceed.  Also, I took out some cash from the refinance (burrowed more than I owed).  I'm not sure how or if this affects things.  Any help with getting the documents entered as needed and proceeding from there would be greatly appreciated.  Thanks in advance.

[fanfare]

start with the 1098 for the oldest loan

answer the questions, and see how it goes.

reply back when you run into trouble.

A lot of people do.

[tomntoby]

That's what I'm confused about really.  The 1098s from the same lender are for the same loan essentially.  I had a loan from my original lender when I bought my house.  I never refinanced or changed the loan until last year.  At that time I refinanced to a new lender.  Yet, I have two 1098s from the original lender.   I assume I add the associated boxes from each 1098 from the original lender and submit that, but I'm not sure if that's what needs to be done.  

[fanfare]

what's on the second 1098 for the original loan?

[fanfare]

there are issues with

• cash out
• points being amortized on the original loan and whether you refinanced with the same lender or a different lender.
• cash out from a previous refinance.
• points paid on the refinance

TurboTax tries to address these issues.

if these don't apply to you just combine all three.

[tomntoby]

So the 2nd 1098 from the original loan only differs in the amount of box 1 (lower value), and the account number (not sure why they differ).  I did do a cash out loan with the new lender.  However there were no points.

[tomntoby]

I forgot that the 2nd 1098 has Principal Only and an amount and the 1st 1098 from the same lender has both Principal Loan and Property Taxes and their amounts. in box 10

[fanfare]

mortgage interest paid to lender is what is important.

if you took cash out, you can't deduct interest on that part if used for other purposes.

[tomntoby]

So is my assumption correct; I just add the original lender 1098s, enter the totals as one entry, and then enter the new lender 1098 as the 2nd entry?

[fanfare]

Since I can't see your 1098 documents, I can't tell you how to combine them.

[tomntoby]

Wouldn't I just add the amounts in the original lender's 1098s?  For example, add box 1 of the 1098 of the first 1098 from the original lender to box 1 of the other 1098 from the original lender.