topic Form 1098 in Deductions & credits

Form 1098

Salute2 — Mon, 31 Jan 2022 19:00:41 GMT

I sold my home residence and purchased a new one in August 2021. I received two 1098 forms, one from the new mortgage company and one from the old mortgage company. When I input the $0 in Box 2, Outstanding Mortgage Principal, for the mortgage of the residence I sold, I'm given an error message, "Outstanding Mortgage Principle Must Have a Value".

Does anyone know why and/or what needs to be done to correct it?

Thank you!

Re: Form 1098

DianeW777 — Mon, 31 Jan 2022 19:37:20 GMT

Using the amount of $1 should allow you to continue and proceed with your tax return. In my test, I entered that in the first 1098 form for the home that was sold during the year. If you continue to have an issue, please add more details.

Mortgage interest is deductible in full up to the amount of a maximum loan on your home of $750,000.

Re: Form 1098

Salute2 — Mon, 31 Jan 2022 20:04:51 GMT

Thank you for the response. And yes $1 will work but it doesn't make sense that it would reject the correct input of $0 which is why I asked the question.