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Deductions & credits
George-Just use the "This is a seller financed loan and I did not receive a 1098" option. TurboTax Deluxe 2017 will then enter the interest correctly on Schedule A and the 1040. TurboTax's option for entering RV interest into TurboTax Deluxe 2017 has very misleading wording. I read that option as two different requirements: the "loan is seller financed" and also "I do not have a 1098".
In my case and most other people's, the seller is the RV dealership and the financing is totally independent of the seller. The financing is done by a financial institution, a bank, that does not issue 1098's. In TuboTax Deluxe 2015 they had the single "I did not receive a 1098" option that fit the situation, however in the 2016 and 2017 versions they added the incorrect portion of the option, "This is a seller financed loan". Hope this makes sense as the answer to my question to TurboTax did not address my question.
In my case and most other people's, the seller is the RV dealership and the financing is totally independent of the seller. The financing is done by a financial institution, a bank, that does not issue 1098's. In TuboTax Deluxe 2015 they had the single "I did not receive a 1098" option that fit the situation, however in the 2016 and 2017 versions they added the incorrect portion of the option, "This is a seller financed loan". Hope this makes sense as the answer to my question to TurboTax did not address my question.
‎June 5, 2019
10:29 PM