Deductions & credits

If you received multiple Form 1098s, please review your entries in TurboTax to make sure you have answered all the questions correctly and entered the correct balance of your loan. TurboTax uses this information to calculate your mortgage interest deduction.

To review your Form 1098 entries:

1. Log into TurboTax and click on any topic to continue
2. Click on Federal from the menu on the left-hand side 
3. Click on Deductions & Credits at the top and then click Edit/Add next to Mortgage Interest and Refinancing (Form 1098)
4. Click on Review next to each 1098 entry and verify your entries
5. Pay close attention to the following:
   1. Outstanding mortgage principal as of 1/1/2019 (If you took out the loan after January 1, 2019, then leave this field blank)
   2. Mortgage origination date
   3. Mortgage acquisition date (if applicable)
   4. 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

Please Note: 

• If your loan was refinanced, it is best to enter the 1098 from your original loan before the 1098 from your refinance.
• If your loan was bought by another company with the same interest rate and principal amount, this doesn't count as refinancing your loan.

For additional information, please see this TurboTax article

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