Home Mortage Interest Worksheet "Borrowed Amount" Field Error

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The 1098 form that I received for a recent property purchase in Dec-2021 only includes information for mortgage origination date and points paid on purchase. I entered this information in the 'Home' section of the deductions and credits, but when I do the smart check I am receiving an error message for "Amount borrowed this year must be entered".

When I attempt to enter the amount on the line that is shown on the screen I am unable to click or type in any information, and when I go back to the "Home" section there is not a area to fill in this information. My 1098 form does not have a value for the Outstanding Mortgage Principal, so I am not sure how to proceed as this error keeps displaying on the check.

Is this a common issue? If so is there a fix that is pending or do I need to enter the loan amount somewhere else?

Any help is appreciated.

AmyC

Alumni - Intuit

Please return to the Federal Deductions and Credits section. You will need to go back to the offending 1098 form and edit that entry. The program needs a number. It is adding the mortgage information to see if you hit the $750,000 mark to limit your interest deduction. If you have no worries, enter the correct amount. If it could put you over, enter $1. The 1098 should be on a first or second home only.

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CBR224Author

Level 2

Hi Amy,

Thank you for the quick reply.

Do I put this amount in the Outstanding Mortgage box when I edit the 1098 entry?

jfrisina

Level 2

Hello, I have the same question and can't see where to go to fix this. I've entered the 1098 information exactly as shown.

pathik

Level 2

Hello @CBR224 ; @AmyC

I have exact same situation as mentioned here, purchased home in Dec 2021, and my 1098 form which I received from my vendor also shows Box 2 blank. Is that correct to do so if I enter my loan amount in "outstanding mortgage principle" to solve this issue?