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Need assistance on 1098

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1 Reply
LinaJ2020
Expert Alumni

Need assistance on 1098

What is your question?  

 

If this is regarding how to enter a Form 1098, here are the steps:

 

In TurboTax online,

  • Sign in to your account, select Pick up where you left off
  • At the right upper corner, in the search box, type in "1098" and Enter
  • Select Jump to 1098
  • Follow prompts

If you have more than one 1098 form, I will recommend you to combine all 1098 forms and enter as one. I am attaching a TurboTax link for the instructions how to do claim your mortgage interests.  Click here:

 

Multiple Form 1098s

 

For tax years prior to 2018, your mortgage interest deduction is generally limited if all mortgages used to buy, construct, or improve your first home (and second home if applicable) total more than $1 million ($500,000 if you use married filing separately status). Beginning in 2018, this limit is lowered to $750,000.  For more information about the mortgage interest deductions, click here: Mortgage Interest deduction

 

 

 

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