Question
I can't get TT to treat 3 1098s on the same primary residence (1 loan at a time via 1 loan sale between lenders 1 subsequent refi) as a "single" loan in 2020. How do I?
Original mortgage on primary residence in 2016. Lender 2 bought loan from Lender 1 in February 2020. I refi'd to Lender 3 in November 2020, so never made a mortgage payment to Lender 3, but paid points and pre-paid interest through YE 2020 in the closing. I haven't received a 1098 from Lender 3, but can get prepaid interest and points from closing statement.
TT treats these 3 loans as 3 different simultaneous loans, blowing past the 750K mortgage limit, thereby limiting my interest deduction, which it shouldn't be.
1st problem is that I can't figure out how to get TT to not assume a 1098 for Lender 3, when using the Interview to enter data.
What fields does TT use to tie these 3 loans together? I'm guessing I need to fudge certain numbers to get TT to consolidate these into a single "average" mortgage for 2020, although there may be some added complexity from the refi happening after 2017, but original note from 2016.
Thx in advance.
TT treats these 3 loans as 3 different simultaneous loans, blowing past the 750K mortgage limit, thereby limiting my interest deduction, which it shouldn't be.
1st problem is that I can't figure out how to get TT to not assume a 1098 for Lender 3, when using the Interview to enter data.
What fields does TT use to tie these 3 loans together? I'm guessing I need to fudge certain numbers to get TT to consolidate these into a single "average" mortgage for 2020, although there may be some added complexity from the refi happening after 2017, but original note from 2016.
Thx in advance.
