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Deductions & credits
You may enter the 1098 as if you received one during the year. Do not enter this as a seller-financed loan.
- Log into Turbo Tax
- go to federal>deductions and Credits>Your Home>Mortgage Interest and Refinancing (Form 1098)
- Did you pay any home loans in 2020? yes
- Now enter the answers to the questions as if you have a 1098.
- Put the mortgage interest in Box 1
- For the mortgage balance outstanding, if you already have a 1098 for the original loan, Put 0 in this box. If this is your only 1098, put in the mortgage balance outstanding.
- Do not put any property taxes in this form though because property taxes are not deductible on Hero loans.
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March 21, 2021
11:29 AM