Question

Can I combine 2 1098 forms to report points and interest if my lender changed but the loan is under 750,000 (it was not a refinance)?

Forum|Forum|5 years ago
May 16, 2021
1 reply
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Our loan was sold to a different lender a month after we purchased our home. We received two 1098 forms. The original has additional points and interest I would like to enter on my taxes but unsure if I can do so with the qualifications turbotax has listed.

TurboTax Deluxe Online

AmyC

Employee

See Points, General Rule and refinancing in Publication 936 (2020), Home Mortgage Interest Deduction | IRS which includes this example:

Example.

Dan paid $3,000 in points in 2009 that he had to spread out over the 15-year life of the mortgage. He deducts $200 points per year. Through 2020, Dan has deducted $2,200 of the points.

Dan prepaid his mortgage in full in 2020. He can deduct the remaining $800 of points in 2020.

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