topic Re: Second Home Deductions in Get your taxes done using TurboTax

Second Home Deductions

Mtang78 — Tue, 24 Feb 2026 05:58:22 GMT

We have a second home in our hometown that we will be retiring in at a later date. We currently are renting another house at our current location. I've always been able to deduct the mortgage interest and property taxes paid on our second home, but don't see where to enter that in TurboTax Deluxe this year. I called the bank because I did not get a form 1098 and they told me it was because the amount of interest paid this past year was below the threshold to be able to file for the deduction. Is that correct? Will we not be able to deduct the mortgage interest or the property taxes paid? The home is not rented out. We keep it as a second home and when we are in town, we stay there.

Re: Second Home Deductions

Bsch4477 — Wed, 05 Apr 2023 22:30:47 GMT

Your interest paid must have been under $600. You can still deduct mortgage interest and real estate taxes if you itemize.

Re: Second Home Deductions

Bsch4477 — Wed, 05 Apr 2023 22:31:40 GMT

Your interest paid must have been under $600. You can still deduct mortgage interest and real estate taxes if you itemize. Be sure your itemized deductions are greater than your standard deduction.

Re: Second Home Deductions

Bsch4477 — Wed, 05 Apr 2023 22:33:03 GMT

Your interest paid must have been under $600. You can still deduct mortgage interest and real estate taxes if you itemize. Be sure that your itemized deductions are greater than your standard deduction.

Re: Second Home Deductions

PattiF — Wed, 05 Apr 2023 22:33:06 GMT

Yes, the bank is not required to send Form 1098 if the interest is below the threshold to report the amount.

You are still able to deduct the mortgage interest that you paid even without Form 1098.

You can deduct the mortgage on your main home or one second home if the debt is secured by the home. Follow these steps:

Go to federal deductions and credits
Select Mortgage Interest
Enter the name of the lender
Select Property type
Do any of these situations apply? Select none of the above
Enter USD for mortgage information, continue
Secured by property? select,
continue answering questions.

At no point do you need SSN or federal ID. When you return to the summary screen, it will show your bank and the interest.

Re: Second Home Deductions

Mtang78 — Wed, 05 Apr 2023 22:46:21 GMT

Yes, it was below the $600 threshold. But the lender said I wouldn't be able to deduct it anyway because of that. Plus, that was why they did not send me a 1098. Unfortunately, the bank switched to a different vendor for their e-statements and so I can't get one that would be for the period ending 12/31/22, so I don't know how much the outstanding principal was on that date. Any suggestions?

Re: Second Home Deductions

RobertB4444 — Wed, 05 Apr 2023 22:55:04 GMT

You should be able to call the lender to get the balance at any point.

@Mtang78