Question

My mortgage loan was transferred to new company, but I got a 1098 from both companies. What do I enter for balance from the original lender? I didn't technically pay off

Forum|Forum|5 years ago
February 25, 2021
1 reply
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Turbotax is asking me for loan balance (or final principal balance if loan was paid off) as well as date of final payment. This loan was just transferred to another company, so I didn't technically pay it off. (I DID receive a 1098 from the original lender, so I have to enter that mortgage interest paid.)

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Carl11_2

Employee

Enter the 1098 for the old loan FIRST, exactly as printed.

Then enter the 1098 for the 2nd loan, and box 2 on that 1098 "SHOULD" show zero, since your balance with the new lender was "in fact" zero, on Jan 1 of 2020.