Question

My mortgage loan was sold, but the most recent 1098 doesn't show my mortgage points. What do?

Forum|Forum|3 years ago
March 4, 2023
1 reply
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I purchased a house in 2022, and I paid $5k in mortgage points. These points are shown in my 1098. But then my mortgage was sold to a separate company, and the new mortgage company also issued a 1098, but it does not show my mortgage points.

I have entered my mortgage points for the original 1098, and then I selected "No" when it asked if this was the most recent 1098. When I entered the second 1098, I did not enter and points because they are not shown on the most recent form.

Upon calculating the deduction, it does not consider my mortgage points because they aren't shown on the most recent form.

This seems like a bug, right?

TurboTax Premier Online

M

Mike9241

most likely you have to report both 1098s . if the mortgage was sold it is most likely each statement only shows the specific interest paid to that financial institution.

C

cscaudill3Author

Sorry, I may have been unclear. I am entering both 1098s, but the points only show on the first 1098 form. When I tell it that this form is not the most recent 1098, it just ignores the points.

LindaS5247

Did you indicate that you bought or improved your home in the current year, as that would be a prerequisite to deducting the points in the current year

You can manually add your points in TurboTax as follows:

Under the Federal menu, choose Deductions & Credits
Click Edit/Add next to Mortgage Interest and Refinancing (Form 1098)
Click Review next to the correct lender
Verify the lender, click Continue
Answer the question Do any of these uncommon situations apply, click Continue
Verify the entries on the 1098 (this does not include the points) and click Continue
Now you are at the points screen, answer the question appropriately. You will likely choose the first option, We paid points... The mortgage origination date is know based on the information entered on the previous screen for the 1098. Click Continue
On this screen, provide the information about the points you paid. Click Continue.