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Why is TT reporting my mortgage interest as "not reported on a 1098" when I said it WAS on a 1098?
I have 3 1098's for 2020. Two are for the primary mortgage which I refinanced in late 2020 and the 3rd is for the 2nd mortgage (Home Equity Loan) which was NOT refinanced. I've indicated on each that a 1098 was received; however, on the Home Interest Worksheet, it is showing only the HEL as being reported on a 1098 (line 8a). The other 2 are indicated as not having been reported on a 1098 (line 8b). Why is it doing this and does it impact how or how much of the mortgage interest is considered deductible?
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Deductions & credits
It won't affect your tax return at all. The mortgage interest is deductible even if not reported on a form 1098. I would have to see your tax return to comment on why it is being reported that way.
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Thank you, ThomasM125. I would love to show you my tax return, but since I can't upgrade from my Costco TT purchase to a TT Live version, I'm not sure how I can do that.
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Unfortunately, TurboTax Live is available for TurboTax Online customers only. TurboTax Live isn't available in the TurboTax CD/Download software.
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