topic Why is the 1098 in my name and not my son in Education

Why is the 1098 in my name and not my son

azizilee — Fri, 14 Aug 2020 20:13:57 GMT

Re: Why is the 1098 in my name and not my son

VolvoGirl — Fri, 14 Aug 2020 20:15:39 GMT

For a mortgage? Whose ssn is on it? You need to ask the bank or lender.

Re: Why is the 1098 in my name and not my son

Carl — Sat, 15 Aug 2020 00:35:47 GMT

The 1098-Mortgage Interest Statement will have the name of the first person listed on the loan paperwork as the primary borrower. That does *NOT* prevent your son from claiming that mortgage interest on his own return, provided two conditions are met and he can prove those conditions are met if ever audited on it.

1) He is legally obligated to pay it (and he is if he signed the mortgage paperwork)

2) He actually paid it (and can prove it if audited on it.)

Re: Why is the 1098 in my name and not my son

xmasbaby0 — Sat, 15 Aug 2020 03:09:14 GMT

Or are you asking about a different kind of 1098--like a 1098T for tuition or a 1098E for student loan interest? You posted your question in the education section. Which one of you is the student? Or the one whose name is on the student loan?

Re: Why is the 1098 in my name and not my son

Hal_Al — Sat, 15 Aug 2020 11:49:17 GMT

If you are saying that TurboTax (TT) has assigned the educational expenses, including the 1098-T, to you, instead of your student dependent, you made that error, at the beginning of the educational interview. You now have to delete it and start over.

Go through the entire education interview until you reach a screen titled "Your Education Expenses Summary". Click delete next to the student's name. After confirming that you want to delete the student, the Your Education Expenses Summary screen will re-appear with an Add A Student button. Click on that to re-enter the info. The first screen will ask who the student is.