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dkgerman3
Level 2
January 5, 2021
Question

Seeing bugs in 2020 rental income. Asks why paid more interest than reported 1098 but I didn't check that, and wants refinancing info but I didn't refinance. Anyone else?

  • January 5, 2021
  • 1 reply
  • 0 views
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1 reply

MarilynG
MarilynG
Level 15
January 14, 2021

Enter Mortgage Interest and Property Tax for your Rental Property in the Rental section first, in the Income  section. 

 

Mortgage Interest for your home (or for any Personal Use of the Rental Property if not rented all year), will be entered in the Deductions & Credits section later.

 

You may want to delete any 1098's you entered in Deductions & Credits, then go into Rentals and enter appropriate amounts there first.

 

This link gives more info on Entering Mortgage Interest for Rental Property. 

 

 

 

 

 

 

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D
dkgerman3Author
Level 2
January 14, 2021

Thanks, but that's what I did. I don't have mortgage interest on my home, there's nothing entered except my rental.

MarilynG
MarilynG
Level 15
January 14, 2021

Have been informed that Schedule E will not be finalized by the IRS until 1/21/21.  This may be affecting the Mortgage Interest Entry.

 

Here's a link for Federal Tax Form Availability.

 

 

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