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K
kderickson
January 28, 2021
Question

I refinanced my home loan in 2020 so I have two 1098 forms. When I enter the second 1098,I lose the mortgage interest deduction. Why is this happening?

  • January 28, 2021
  • 1 reply
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    1 reply

    AmyC
    AmyC
    Employee
    January 29, 2021

    For the loan that was paid off, you will need to enter a balance of $1 instead of 0. 

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    K
    kdericksonAuthor
    January 29, 2021

    The issue is the amounts in box 2 for both 1098 forms are added together and exceed the $750k limit.  Do I override the amount in box 2 of the 1098 of the loan I paid off and enter $1 instead?  

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