What IRS form is used for interest on special assessments on property (home)? Principle for the special assessment is NOT deductible. Can I just add the interest to the property taxes that were paid? I was told that the interest should be declared using the mortgage interest form. I do not have a mortgage.
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Follow the steps to enter the interest onto Schedule A (Itemized Deductions): (TurboTax will help you determine if you qualify and how much you will benefit.)
• Click on Federal Taxes (Personal if using Self-Employed)
• Click on Deductions and Credits
• Click on I'll choose what I work on (if shown)
• Under Your Home
• On Mortgage Interest, click on the start or update button
Follow the steps to enter the interest onto Schedule A (Itemized Deductions): (TurboTax will help you determine if you qualify and how much you will benefit.)
• Click on Federal Taxes (Personal if using Self-Employed)
• Click on Deductions and Credits
• Click on I'll choose what I work on (if shown)
• Under Your Home
• On Mortgage Interest, click on the start or update button
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