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Where to record

Hi, I bought a primary home at the end of 2019 and did not officially move until December 20. We still had our old house at the end of the year with the intent of selling it on January 2020. I did not move because of a job.  Which form should i use to enter the real estate taxes and mortgage interest that was prorated from December 10 until Jan 1 2020?

My other question is I bought the turbotax premier cd through costco and I find it difficult to get the assistance of cpa live. I am hoping to use the CPA live if it is available through the cd and I am willing to pay the extra cost. There seems to be a way to screenshare and submit the current tax forms to a turbotax cpa. Any advice would be greatly appreciated. 

 

Thank you

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4 Replies

Where to record

the interest and prorated taxes that were on the closing statement can just be placed on Schedule A.  

Where to record

Thank you. For some reason, turbo tax will not let me enter these prorations because i had another primary home for 11 months. I'm going to try to reach turbotax on Monday and see if they can help me.

Where to record

can you put it under a '2nd home',. which is what it is; the result is going to be the same.   TT is correct that you can't have two primary homes.  

 

I assume you are itemizing? if you are taking the standard deduction, it doesn't matter and I'd just forget it. 

 

 

Where to record

Yup, we are itemizing. Thank you. This is helpful. I just got the the 1098 today from my new mortgage and will be adding that in under mortgage interest deduction. It looks like none of the other closing costs can be deducted. 

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