Our home mortgage is with a private lender (not seller of home), and we will not receive a form 1098. How do we deduct our mortgage interest in Turbotax?

cjmahy — Thu, 06 Jun 2019 09:50:39 GMT

If you do not receive a form 1098, you can still claim mo...

MinhT — Thu, 06 Jun 2019 09:50:41 GMT

If you do not receive a form 1098, you can still claim mortgage interest by providing the lender's name and taxpayer identification number (generally his SSN) on the 1098 screen in TurboTax.

You can enter your mortgage interest by following these steps:

In TurboTax, open your return and click on Personal then on Deductions & Credits
Click on Continue on the next page
On the next page, click on I'll choose what I work on
Locate the section Your Home
Click Start next to Mortgage Interest, Refinancing, and Insurance
TurboTax will take you through a questionnaire to enter your mortgage interest.

If you do not provide the lender's SSN, the IRS may impose a penalty of $50.

Please read this IRS document, especially the section How to report on page 9:

https://www.irs.gov/pub/irs-pdf/p936.pdf

topic Our home mortgage is with a private lender (not seller of home), and we will not receive a form 1098. How do we deduct our mortgage interest in Turbotax? in Deductions & credits

Our home mortgage is with a private lender (not seller of home), and we will not receive a form 1098. How do we deduct our mortgage interest in Turbotax?

If you do not receive a form 1098, you can still claim mo...