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1098 mortgage interest farm

Why can’t I enter my farm mortgage interest directly on expense line? There seems to be no ability to enter in later sections. If you jump to 1098 it takes you to personal and assumes this is for home mortgage. This was a frustrating thing with last year too. Worse I can’t e-file if I use override.

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10 Replies
KathrynG3
Expert Alumni

1098 mortgage interest farm

From the left menu>Federal>Income & Expenses>

Scroll to your Farm Income and Farm Rental and click Edit/Add>

Answer the Income questions again to get to the Farm Summary and click Edit>

Scroll down to Farm Expenses>Common farming expenses and click Update>

Scroll to Mortgage Interest to adjust the value>Continue and follow the rest of the prompts.

 

It does not appear that it otherwise has its own Form 1098 section like the individual section.

 

wilkc
Returning Member

1098 mortgage interest farm

The instructions for reporting farm mortgage interest are not clear.  Are you in form view or step by step? I tried to follow the directions above but there was no "update" button in the premier version.  If someone can tell me how to report mortgage interest for a farm without the "override" feature, I would be most appreciative.

KrisD15
Expert Alumni

1098 mortgage interest farm

 

Click open the search box (click the magnifying glass on the top right of the screen)

Type   farm income   into the search box and click the enter key

Click on the "Jump to farm income" link in blue

Continue through the interview

Mortgage interest in entered on the "Enter farming Expenses" screen

 

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wilkc
Returning Member

1098 mortgage interest farm

My turbo tax will not let me enter the mortgage interest where you described in the premier version. The box for mortgage interest is “grey out” with no opportunity to enter a dollar amount. I can go into forms view and “override”, but then it won’t let me file online. Suggestions on how to fix????

JohnW222
Expert Alumni

1098 mortgage interest farm

Try this, in Step-by-Step:
1.    Go to the Federal Taxes tab.
2.    Go to Wages & Income.
3.    Go to Business Items.
4.    Go to Farm Income and Farm Rental.
5.    Go through the interview until you come to Enter Farming Expenses.  There, you can enter Mortgage Interest.
If you can’t get back to this screen, you’ll need to delete Schedule F in the Forms view and begin the process again.
 

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robro2008
New Member

1098 mortgage interest farm

Didn't work.  Found the spot as I had before. The entry box is not available, just a permanent zero.

1098 mortgage interest farm

It does not. You cannot enter any value on that line or in forms view. Every year this same problem and you guys never fix it. But you keep telling us to go to the same place we’ve been trying to enter mortgage interest. Trying to tell you the program won’t let us. FIX IT!

1098 mortgage interest farm

Did all that a thousand times and it will not let you enter mortgage interest and if you override you cannot efile

1098 mortgage interest farm

Ok I solved no thanks to the so-called experts. Here’s what you do…

Go to Forms, open a form and enter 1098 in search box. At bottom is the one for mortgage interest. Select that and create a 1098. Enter all of your info. Once you’ve entered everything there are some boxes to check at bottom of form. Select Farm Activity. Then you’ll see a line for the farm highlight below. Double click on that line. If you’ve already started your Form F it should appear for you to select. It will now link your 1098 to this farm and appear on the schedule F. You can enter multiple 1098s by repeating process. TurboTax how about making this a little easier next year???

J Mac
New Member

1098 mortgage interest farm

Finally. This answer works. 
thanks. 
intuit….  “FIX THIS!!!”

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