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feralmay1
New Member

How can I deduct interest on 2 loans when one holder paid off by new loaner. Have a 1098 for both loans

 
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1 Reply
ReginaM
Expert Alumni

How can I deduct interest on 2 loans when one holder paid off by new loaner. Have a 1098 for both loans

When you go through the on-screen section for your 1098's, TurboTax will ask specific questions on each of your loans. Make sure to answer these questions correctly and TurboTax will maximize your deduction. 

 

Here is how you can enter your 1098's in TurboTax:

  1. While in your Tax Home,
  2. Select Search from the top right side of your screen,
  3. Enter 1098,
  4. Select Jump to 1098,
  5. You will come to this screen, 
  6. Select Add another 1098.
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