Deductions & credits

This is a complex calculation, but I've taken it directly from IRS Publication 936 (2022), Home Mortgage Interest Deduction

Or you can plug your 1098 into TurboTax and have us do the calculation.

Follow these steps to post your 1098.

Select Deductions & Credits

1. Scroll to Your Home
2. Select Mortgage Interest and Refinancing (Form 1098)
3. Did you pay any home loans in 2022? - Yes
4. Continue
5. Select your bank, if you select this option, follow the interview.
6. or Change how I enter my form.
7. Type it by myself.
8. Follow the interview.

For box 2 (Outstanding Mortgage principal)

1. Your outstanding mortgage principal balance is the amount of money you still owe on your home loan.
2. If you took out a new loan, input your original loan balance.
3.  If your loan was funded before the start of the previous year, input your balance as of January 1, 2022.