mortgage pool security reports extend into the new year

hurricane bob · ‎March 27, 2023

FNMA ( and other mortgage pool securities) activity (purchases, cost basis, and interest) broker reports includes dates in new year. Turbo Tax flags these as "errors". Do I have to correct these "errors" even though my broker gives this explanation:

"Merrill reports payments based on record date as opposed to payable date for the mortgage pool securities. Your income this year will include payments between February 2022 and February 2023."

I'm really fed up with Turbo Tax Premier not being forthcoming with this issue. Why can't I get an answer to this simple question directly from Turbo Tax instead having to go to the community? Next year I will look for more friendly software.

RobertB4444 · ‎March 29, 2023

Yes. TurboTax operates using the calendar year so you will have to change any dates either to the payable date or you will adjust them to December 31st.

@hurricane bob

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