Since you have multiple Form 1098s, it is important to verify that you have entered the correct loan balances into TurboTax. This information is used to calculate your mortgage interest deduction.
To review your 1098 entries, please follow these steps:
- Log into TurboTax and click on any topic to continue
- Click on Federal from the menu on the left-hand side
- Click on Deductions and Credits at the top
- Click on Edit/Add to the right of Mortgage Interest and Refinancing (Form 1098)
- Click on Review next to each 1098 you entered
- Pay close attention to the following entries:
- Outstanding mortgage principal as of 1/1/2019 (If you took out the loan after January 1, 2019, then leave this field blank)
- Mortgage origination date
- Mortgage acquisition date (if applicable)
- If your loan was refinanced, mark "Yes" to the question "Is this loan a home equity line of credit or a loan you've ever refinanced?" and answer the questions carefully
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