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February 5, 2023
Question

If we have two form 1098. One primary home. What kind of property is the second?

  • February 5, 2023
  • 1 reply
  • 0 views
It's from a construction loan with another bank.

1 reply

JohnB5677
February 5, 2023

Enter the original (closed) loan first

  1. Under Federal
  2. Deductions & Credits
  3. Did you pay any home loans in 2022? and Continue.
  4. You can either sign into your financial institution and import your 1098 forms or select Change how I enter my form.
  5. Next, you can either upload a digital copy or Type it in myself.
  6. Continue through the interview to enter this 1098 exactly as it appears.
  7. Answer the questions, and when you get to the Let's see if this is the most recent form for this loan screen, answer No to Is the 1098 you're working on now the most recent for your loan?
  8. On the next Let's get some details about this loan screen, answer Yes to Is this the original loan you used to buy your property?
  9. Select Continue to be taken back to the Your 1098 info so far screen.

Then enter the 1098 for the new loan.

  1. Select Add another 1098 and continue through the interview.
  2. Complete your 1098 info exactly as it appears on your form.
  3. On the Let's see if this is the most recent form for this loan screen, answer Yes to Is the 1098 you're working on now the most recent for your loan?
  4. On the next Let's get some details about this loan screen, answer Yes to Is this the original loan you used to buy your property? Even though the loan is with a new lender, it's still considered the original loan for this calculation. 
  5. When you're all done, you'll see both your forms on the Your 1098 info so far screen. 

You can Continue through the interview to finish the posting.

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