Often a client refinances or sells their home and there is no way - other than making a note for next year - to remember that we should not be asking for a particular 1098 in the future. Making a "do not transfer to next year" check box would alleviate this problem.
I appreciate that information very much! However, I don't believe that will work if it's a rental property or home office - anything that goes somewhere besides the schedule A.
This is what I do on the Schedule E worksheet. Whenever there is more than one 1098, I make a supporting statement. I hit the box in upper right to not print this statement with the return. On the statement, I list the name of the lender and make a note that it was paid off. This supporting statement will transfer to the next year. In the subsequent year, when you look at the schedule E worksheet it will already have a greenish 0 on the line. That tells me there is a supporting statement. When you click to open the statement, your note from the prior year is there telling you that XYZ lender was paid off in the prior year.
