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azizilee
New Member

Why is the 1098 in my name and not my son

 
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4 Replies

Why is the 1098 in my name and not my son

For a mortgage?  Whose ssn is on it?  You need to ask the bank or lender.

Carl
Level 15

Why is the 1098 in my name and not my son

The 1098-Mortgage Interest Statement will have the name of the first person listed on the loan paperwork as the primary borrower. That does *NOT* prevent your son from claiming that mortgage interest on his own return, provided two conditions are met and he can prove those conditions are met if ever audited on it.

1) He is legally obligated to pay it (and he is if he signed the mortgage paperwork)

2) He actually paid it (and can prove it if audited on it.)

Why is the 1098 in my name and not my son

Or are you asking about a different kind of 1098--like a 1098T for tuition or a 1098E for student loan interest?   You posted your question in the education section.  Which one of you is the student?  Or the one whose name is on the student loan?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Why is the 1098 in my name and not my son

If you are saying that TurboTax (TT) has assigned the educational expenses, including the 1098-T, to you, instead of your student dependent, you made that error, at the beginning of the educational interview.  You now have to delete it and start over.

Go through the entire education interview until you reach a screen titled "Your Education Expenses Summary".  Click delete next to the student's name. After confirming that you want to delete the student, the Your Education Expenses Summary screen will re-appear with an Add A Student button. Click on that to  re-enter the info.  The first screen will ask who the student is.

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