DianeW777
Expert Alumni

Deductions & credits

In the Box 2 amount for the mortgage that is paid off use $1 instead of a zero and this should allow you to proceed. Please update here is you continue to experience problems.

 

This link may also be helpful for your experience.  What to do if I have multiple 1098s

 

NOTE: If the amount of your mortgage is more than the cost of the home plus the cost of any substantial improvements, only the debt that isn't more than the cost of the home plus substantial improvements qualifies as home acquisition debt. This means that if  'cash out' proceeds were not used to improve the home they would not be part of home acquisition debt.

 

Any additional debt not used to buy, build, or substantially improve a qualified home isn't home acquisition debt. TurboTax will calculate the amount of allowed mortgage interest deduction based on your entry or you can choose to make the entries yourself.

  • To review the information and worksheets you can use this link: IRS Publication 936, page 12

[Edited: 02/28/2021 | 8:55a PST]

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