Refinanced mortgage outstanding loan balance
We have refinanced in 2020 with the following information and received 3 1098 forms.
Company A: original loan of 500k.
Company B: refinanced with 400k after paid off 100k difference and 400k to A.
Company C: B loan transferred/bought over by company C that we are currently paying the mortgage of 400k with.
On the mortgage interest form, turbotax asks for more information:
What was the outstanding loan balance on Jan 1, 2021, if you paid off in 2020, enter the balance on the day you paid off.
Should I enter like this?
1) Company A: 500k
2) Company B: 400k
3) Company C: 400k
It is not triple counting? want to check the TurboTax gets the net loan of 400k correctly this way.