If I refinanced and have 2, 1098-Forms from 2 lenders and the amount is over 375k in both forms, do I have to enter both forms with the combined amounts in box1?

Forum|Forum|5 years ago
March 8, 2021
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The instructions say to sum both amounts in box 1 and 5, then add the rest with the information from the original loan, so I guess this is the first loan. Then I need to add the second form, from my new lender, but I'm not sure if I have to consider again both amounts in box 1, because it looks like I paid double of taxes, I don't know if turbotax fix this when doing the wrap up.

TurboTax Self Employed Online

MayaD

If you refinanced last year, you’ll have a Form 1098 from your previous lender and one from the lender you refinanced with. You’ll need both forms.

To report the information on your return you need to :

Add together the box 1 amount from each form and enter the total in TurboTax as Box 1 Mortgage interest.
Add the Box 5 amount from each form and enter the total as Box 5 Mortgage insurance premiums.
Add the property tax paid from each form and enter it in the Property (real estate) taxes box
Next, add info for boxes 2, 3, 7, and 11 using Form 1098 for the original loan.