I have received two errors when I ran the error check after completing my taxes. They are listed below. In past years when I received such errors it would take be to the form where the information must be entered but it didn't do it this time. When I entered the information for the mortgage it said if the acquisition date is blank on the 1098 to leave it blank. I'm not sure what to do about the second error. The second question is based on items that I donated to a local charity.
1. Moraqsdt has an invalid date.
2. Cost/adjusted basis must be entered.
Thanks!
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Both of these errors can be corrected in the "Deductions & Credits" tab in the Federal interview. First, you should put in the date you closed on home loan. Here are the steps:
1. Click Federal in left hand menu
2. Click "Deductions & Credits" tab at the top of the page
3. Scroll down to the "Mortgage and refinance" section
4. Edit/add
5. Edit the 1098
6. Put in the date of loan
For the second error, there appears to be an original cost missing from one of your donations.
1. Click on "Deductions & Credits" at the top of the page
2. Scroll down to charitable donations
3. Edit your donations
4. Be sure all cost and values are complete
Thanks for your help!
The application states Box 11 - Mortgage acquisition date if Box 11 is blank, leave it blank here.
Box 11 is blank, why am I getting an error that Moraqdt is required, If I'm supposed to leave this field blank?
Box 3 - Mortgage origination date has been entered.
Is this a 2nd form 1098 on the same property? Delete the forms 1098 from your TurboTax entries. Then go back and re-enter the original loan first and the then the next oldest. If the box 11's are empty on your forms then leave them blank in TurboTax.
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