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dale r
New Member

bought a house

My daughter and son bought their first home. They didn't sell one as they were living with us their parents.

Turbo Tax doesn't understand they didn't sell a home. Any suggestions

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1 Reply
DMarkM1
Expert Alumni

bought a house

There is no tax topic for "buying a home".  There are however potential itemized deductions for homeowners.  Typically those are the mortgage interest paid and real estate (property) taxes paid.  

 

The information for those deductions is usually found on a form 1098 issued by the mortgage company and the homeowners receive a copy.  The form 1098 information is then entered in the "Deductions & Credits" section.  Scroll down to "Your Home" and use the dropdown list to find the applicable topics.

 

If the total itemized deductions exceed their standard deduction ($27,700 for married filing jointly) then the itemized deductions will be used.  

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