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Employee

Question

mortgage loan sold to another lender

Forum|Forum|7 years ago
February 6, 2019
4 replies
0 views

My mortgage loan was sold to another lender during the year, so I've received 2 1098 forms. When I enter both of these, the itemized deduction amount is not picking up the correct amounts. If I enter the total interest & property tax under one lender, the right amount is calculated. Not sure what I'm doing wrong?

what version of TT are you using and is it online or desktop? This issue is raised in other posts as well.

Also, for the 1st servicer, if you list the balance as zero on 12/31/18 and for the 2nd servicer list the balance as zero on 1/1/18 , does that solve the problem?

Employee

Hi, We are having the same problem as cfulton with a mortgage servicer switch mid-year.

We are using TT Premier.

As to your question,

"Also, for the 1st servicer, if you list the balance as zero on 12/31/18 and for the 2nd servicer list the balance as zero on 1/1/18 , does that solve the problem? "

We just tried this and that didn't change any of our numbers.

We agree and think that TT thinks we have 2 separate mortgages when it's just one mortgage.

Thanks for any help!

Employee

I am experiencing the same issue and cannot resolve it after entering the data a number of different ways. A bug for sure.

Employee

Just got off the phone with Turbo Tax. This is an issue on their end.

They are working to resolve it, so hopefully this will be fixed within the next few days.

Employee

Does TT solve the bug? I tried today and it does not allow me to input 0 on the second loan beginning balance.

Employee

I ended up using H&R block because of this issue. They were able to correctly pick up both 1098 statements with no issue or modification.