Hi, my mortgage was sold to another lender during June 2024, and as such I have two 1098 forms for 2024. After I input the information and proceed to the next page, I'm asked to tell more about each of the referenced loans, where it asks what is the "loan balance as of January 1, 2025". For the first lender section, what…
I have a situation that the software does not seem to support natively. Using more illustrative numbers to simplify the description. There are two home loans for a primary residence property. Loan 1: - principal is 650K (roughly average for the year - I'm aware of the methods the IRS recommends for computing this for a…
My husband and I are planning to go on a church mission in 2024 in another state or country. We will need to rent our home in Idaho while we’re gone for 18-24 months since we still have a mortgage to pay on it. Can we deduct the portion of rent that will cover our mortgage expenses as well as other expenses like the…
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