Deductions & credits

Zomboo's idea to delete the 1098 is a good idea. 

The program hangs onto information sometimes and doesn't always show the same screens.

I believe you are using TurboTax Online

To Delete a Form  using TurboTax Online:
Select Tax Tools on the left side-bar
Select Tools from that drop-down
Select “Delete a form” on the TOOLS CENTER screen
Select the Form 1098 and delete
For TurboTax Online, you should delete any 1098 you have already entered and do not carry-over the 1098 from 2022 if the program gives you that option.

Delete Form 1098

Delete “Home Mortgage Interest Worksheet” 

Go back to 

Deductions and Credits 

Mortgage Interest and Refinancing (Form 1098) START or EDIT/ADD

Select Yes to "Did you pay home loans in 2023?" 

Select “Change how I enter my form” if needed DO NOT IMPORT THE FORM

Select “Type it in myself”

Enter name of Lender CONTINUE

Select "None of the above" for "Do any uncommon situations apply?"

CONTINUE

Enter the details off the 1098 - Box 3 should be a date in 2022 - Box 11 should be blank or the same as Box 3

CONTINUE

Select "Yes, this loan is secured by a property of mine" CONTINUE 

Select "Primary Home" for “What kind of property is this loan for?” CONTINUE

NEXT SCREEN “Did you pay points in 2022 when you took out the loan?” 

Select “I paid points when I refinanced, purchased a second home, or opened a home equity loan in 2022”

CONTINUE

NEXT SCREEN “Tell us about the points you paid in 2022” enter the DOLLAR amount and term (years) of loan

CONTINUE

“Is this 1098 the most recent for your loan?” 

YES      CONTINUE

“Let’s get some details about this loan” 

Select “This loan is neither of these”    CONTINUE

NEXT SCEEN “Congrats, you get a tax break”    CONTINUE

NEXT SCREEN   “Here’s your 1098 info” shows the yearly interest and total amount of points, (the points will be amortized later) 

CONTINUE

If the loan is over the limit, the interview will continue

Enter the balance of the loan Jan 1st of this year 2024

Leave the paid off box blank 

CONTINUE

“Do either of these apply to this loan?”    “NO”   CONTINUE

“Let’s wrap up your mortgage interest deduction” screen shows the loan balances  CONTINUE

“Your mortgage interest is being limited” this screen adjusts for the loan being over the limit. 

This screen should show the yearly interest and yearly portion of points 

CONTINUE

You can see the itemized deductions on the tax summary 

To View using TurboTax Online:
Select Tax Tools on the left side-bar
Select Tools from that drop-down
Select “View Tax Summary” on the TOOLS CENTER screen
 

@ahki