347054
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

mvel1031
New Member

Balance on Jan.1,2019 where on my 1098 do i find this answer?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
JulieCo
New Member

Balance on Jan.1,2019 where on my 1098 do i find this answer?

The year ending balance for your mortgage (balance as of Jan. 1, 2019) is not going to be listed on your 1098 form.  You will have to find the balance either on a mortgage statement or by contacting your mortgage lender. 

This information is needed due to the changes in the amount of mortgage interest that can be deducted beginning in tax year 2018.  If your mortgage is refinanced or more than $750,000, then the ending balance is needed to determine the amount of interest that can be included as a deduction in 2018.

Here is more information on how the 2018 Tax Reform changes can affect your tax return.  Click on the blue arrow for Mortgage Interest and Home Equity Loans:

https://ttlc.intuit.com/replies/6971774


View solution in original post

1 Reply
JulieCo
New Member

Balance on Jan.1,2019 where on my 1098 do i find this answer?

The year ending balance for your mortgage (balance as of Jan. 1, 2019) is not going to be listed on your 1098 form.  You will have to find the balance either on a mortgage statement or by contacting your mortgage lender. 

This information is needed due to the changes in the amount of mortgage interest that can be deducted beginning in tax year 2018.  If your mortgage is refinanced or more than $750,000, then the ending balance is needed to determine the amount of interest that can be included as a deduction in 2018.

Here is more information on how the 2018 Tax Reform changes can affect your tax return.  Click on the blue arrow for Mortgage Interest and Home Equity Loans:

https://ttlc.intuit.com/replies/6971774


Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question