AmyC
Expert Alumni

Deductions & credits

Follow these steps:

  1. Open to Federal tax deductions
  2. Select add a lender
  3. Enter Coop /mortgage name, continue
  4. Select primary home
  5. Select none of the above, continue
  6. Since the CPA gave you the deductible amount, enter the mortgage interest,
  7. enter $1 for the outstanding balance
  8. Enter the date you joined the coop for the origination date.
  9. any other information to enter and continue
  10. Yes, secured by property of mine
  11. No points
  12. Most recent
  13. Heloc, no
  14. Exclusively on this home, yes

The mortgage covers al things but your share is yours and is related to your primary home and you are responsible. So the answers need to force the program to allow your sch A to show the correct mortgage interest for you and your home.

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