I did a search & could not find my question.
We are combining two small farm loans into one. Both were reported earlier this calendar year. Logic tells me not to report them again but....
There really isn't an increase in what we are loaning but an increase will show on the one we are rewriting since we added in another existing loan.
So do we report the new loan and report the increase?

6 of one / half-dozen of the other:

You could either report both original loans and ignore the combined, or you could report the one loan and then the increase that occured when you combined it with the other, or you could report just the new loan.

As long as you aren't double reporting the same loans in the same year, you should be fine.

I recommend that you decide how you are going to handle this situation, write it down in a "Reporting procedure" and handle any similar future transactions in the same manner so that you are consistent.