I have 2 Mortgage Interest Statements (1098s) for the same property from different lenders. What do I do?

Forum|Forum|6 years ago
February 9, 2020
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My wife and I purchased new home and closed on March 1st, 2019, which was sold almost immediately to another lender. I have also received 1098's from both lenders. The 1098 from the lender we pay our mortgage payments too shows the bulk of the Mortgage Interest Received and the Mortgage Insurance Premiums, but the 1098 from the original lender also shows a small amount of Mortgage Interest and Mortgage Insurance Premiums. What I'm confused about is that both 1098's show the same Outstanding Mortgage Principal and the same Mortgage Origination Date. Do I still add both lenders in, even though some of the information is the same on both? Does it matter which lender I add first?

Many thanks in advance.

DianeC958

Yes you add both lenders so you can claim the interest paid and property taxes paid.

It does not matter which lender you enter first.

In box 2 for both loans the amount should be $0 since you did not have the loans at the beginning of the year.

Box 2 asks what the balance due was as of 01/01/2019 since the loads began in 2019 the amount is $0.

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rshehanAuthor

Fantastic, thank you for the answer! Follow up though... So box 2 on both of the 1098's shows a dollar amount, but in Turbo Tax, I enter $0?? Just want to make sure I understand that part correctly.