topic If I sold and bought a home and have 3 1098’s how do I know my information is complete? It still says it is missing information in Deductions & credits

If I sold and bought a home and have 3 1098’s how do I know my information is complete? It still says it is missing information

aweho2019 — Sun, 09 Feb 2020 06:05:57 GMT

Re: If I sold and bought a home and have 3 1098’s how do I know my information is complete? It still says it is missing information

Anonymous — Sun, 09 Feb 2020 06:09:49 GMT

what information? the message can be due to incorrect entries for the 1098's. we can't see your return, so we have no way of knowing whether or not your return is complete. upgrading to TT Live, you can have your return reviewed. However, they would have no way of knowing if certain things were omitted.

Re: If I sold and bought a home and have 3 1098’s how do I know my information is complete? It st...

KathrynG3 — Tue, 11 Feb 2020 18:34:43 GMT

For your information to be complete:

1. Enter the details for your purchased home:

From your settlement statement,you may have a portion of the property taxes
You will have a "new" Form 1098 for the mortgage interest expenses

2. Report the sale of your home. The article below has all the steps for TurboTax.

If you lived in the sold home for two out of the last five years and never rented the property or used a home office deduction (not the simplified method), then the homeowner has a $250,000 gain exemption. If there is a spouse and the home is jointly held, then each have the $250,000 exemption for a total of $500,000.

For more details: Sold a house and bought a house.