topic I'm working on my 2018 tax return. I paid off my mortgage early in 2019... Do I need to enter anything into TT / on my 2018 tax return if it was paid off in 2019? Thanks! in Deductions & credits

I'm working on my 2018 tax return. I paid off my mortgage early in 2019... Do I need to enter anything into TT / on my 2018 tax return if it was paid off in 2019? Thanks!

GottaPayMyTaxes — Mon, 02 Sep 2019 20:43:33 GMT

I paid off my mortgage early in 2019. There was no early payment penalty, but there was a $47 Recording Fee (in addition, of course, to the principal and accrued interest).
I thought I saw TT asking whether the mortgage has been paid off.
Do I need to indicate anywhere on my 2018 tax return, or change my responses in TT -- or is the payoff only relevant to my 2019 tax return?
Thanks

Re: I'm working on my 2018 tax return. I paid off my mortgage early in 2019... Do I need to enter anything into TT / on my 2018 tax return if it was paid off in 2019? Thanks!

DoninGA — Mon, 02 Sep 2019 20:51:03 GMT

Since the mortgage was not paid off until tax year 2019 there is nothing for you to indicate on the 2018 tax return concerning a mortgage payoff.

Re: I'm working on my 2018 tax return. I paid off my mortgage early in 2019... Do I need to enter anything into TT / on my 2018 tax return if it was paid off in 2019? Thanks!

xmasbaby0 — Mon, 02 Sep 2019 20:53:46 GMT

Nothing you did in 2019 belongs on your 2018 tax return. Enter only the information relevant to your mortgage in 2018 on a 2018 tax return. If you have anything about your mortgage for 2019 to enter you will do that when you prepare your 2019 tax return--in early 2020.

Also--paying off your mortgage will not be relevant. There is no deduction for paying off the loan. Only interest paid on the mortgage would be deductible.

Re: I'm working on my 2018 tax return. I paid off my mortgage early in 2019... Do I need to enter anything into TT / on my 2018 tax return if it was paid off in 2019? Thanks!

GottaPayMyTaxes — Mon, 02 Sep 2019 21:18:31 GMT

Thank you both very much for the info/guidance.