topic 1098 in Deductions & credits

1098

rettigmark — Fri, 29 Jan 2021 15:09:47 GMT

Due to a refi and creation of trust, we have three 1098 forms all with different payer/borrower/name. All three for same principal residence. What should we enter as to not confuse turbo tax and flag at IRS?

Re: 1098

jlbrick — Fri, 29 Jan 2021 17:48:39 GMT

See discussion here: https://ttlc.intuit.com/community/tax-credits-deductions/discussion/bug-with-refinance-on-a-large-mortgage/00/1820267/highlight/false

Re: 1098

KrisD15 — Sun, 31 Jan 2021 00:16:19 GMT

When you enter the 1098, the TurboTax program allows for you to enter and claim interest from a 1098 even if that 1098 is in a different name.

Enter the 1098 and continue through the interview.

As long as the Taxpayer paid the interest and has an ownership interest in the property.

IRS Pub 936

@rettigmark