On form 1098 Box 1, do I have to enter that amount or not?

mabhappi · ‎April 1, 2020

Do I enter that amount while filing for taxes?

JamesG1 · ‎April 1, 2020

IRS form 1098 Mortgage Interest Statement box 1 may be entered.

Mortgage interest can be deductible on IRS form 1040 Schedule A Itemized deductions. Entry is not mandatory.

The total of your itemized deductions would have to exceed your standard deduction for entry to affect the bottom line on your tax return.

To enter mortgage interest, follow these steps.

Down the left side of the screen, click Federal.
Across the top of the screen, click Deductions & credits.
Scroll down to Your Home. Click Show more.
Click on Start/Revisit to the right of Mortgage interest and refinancing (form 1098).
At the screen Did you pay any home loans in 2019? Click Yes.

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JamesG1 · ‎April 1, 2020

IRS form 1098 Mortgage Interest Statement box 1 may be entered.

Mortgage interest can be deductible on IRS form 1040 Schedule A Itemized deductions. Entry is not mandatory.

The total of your itemized deductions would have to exceed your standard deduction for entry to affect the bottom line on your tax return.

To enter mortgage interest, follow these steps.

Down the left side of the screen, click Federal.
Across the top of the screen, click Deductions & credits.
Scroll down to Your Home. Click Show more.
Click on Start/Revisit to the right of Mortgage interest and refinancing (form 1098).
At the screen Did you pay any home loans in 2019? Click Yes.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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