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February 5, 2021
Question

How can I tell which mortgage is which on the page where I enter the "Date loan was paid off" and "Outstanding principal balance" if the lenders have the same name?

  • February 5, 2021
  • 1 reply
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I refinanced a loan this year. The refinance was with the same lender as the original loan. On the page that says "Based on the loan info you’ve entered, your mortgage interest deduction may be subject to some additional IRS guidelines", where it wants me to enter "Data loan was paid off" and "Outstanding principal balance", I cannot tell which is the original loan and which is the refinance. This is because there is no other identifying about which mortgage is, just the lender name (which again, is the same). I can guess, but there's a 50/50 chance I put the information on the wrong loan.

1 reply

February 5, 2021

A good solution is to change one of the Lenders name with an added symbol or number and mark it on the 1098 to remember which is which.  

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