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aphogan
New Member

Home purchase but did not receive a 1098

I purchased a new home in 2019 and did not receive a 1098 from the initial lending institute; therefore, I'm unsure how to report information for tax deduction purposes.  I have a closing disclosure which I was told by the lender can be used instead.  This is a VA loan with VA funding fees.

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3 Replies
JohnB5677
Expert Alumni

Home purchase but did not receive a 1098

Here’s a quick summary of the items you may be able to deduct. 

  • Mortgage interest: You may be able to deduct the interest you pay on your loan. Homeowners will see what they paid in mortgage interest for the prior year on IRS Form 1098, or it may be listed on the closing disclosure.
  • Property taxes: You can often claim annual property taxes as an income tax deduction.
  • VA Funding Fee: The annual amount you pay toward your VA Funding Fee is likely tax deductible.at you pay to lower the interest rate on your mortgage are also deductible.
  • Discount point fees: Any fees that you pay to lower the interest rate on your mortgage are also deductible.
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aphogan
New Member

Home purchase but did not receive a 1098

How do I report that in TurboTax?

MayaD
Expert Alumni

Home purchase but did not receive a 1098

You can get your mortgage info by going to your lender’s website. Other documents, like your monthly mortgage bills and your Closing Disclosure (or HUD-1), will also have some of this info. 

Report the information on TurboTax as if you received a 1098 form:

  1. Log in to your account
  2. Go to Federal Taxes.
  3. Go to Deductions and Credits.
  4. Go to Your Home and click show more.
  5. Select Mortgage Interest and Refinancing (Form 1098).
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