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dougmck1
New Member

How do I enter mortgage interest not on a 1098

 
3 Replies
VictoriaD75
Expert Alumni

How do I enter mortgage interest not on a 1098

Begin by entering the information as though you received the 1098:

  1. Under the Federal menu, choose Deductions & Credits
  2. Expand the menu for Your Home
  3. Click Start/Revisit next to Mortgage Interest and Refinancing (Form 1098)
  4. Enter the lender information
  5. On the following screen, choose The seller is financing this loan and we didn't receive a 1098
  6. Complete the information on the screens that follow
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hogwell
Level 2

How do I enter mortgage interest not on a 1098

But what if the seller is NOT the mortgage lender?

 

For example, we financed a personal mortgage for our son, secured by his home, so we are not required to send him a 1098 as a closely related lender, but we are also not the seller. The interest he pays us should qualify him for the mortgage interest deduction, even without a 1098.

 

I cannot figure out how my son would enter this in TurboTax.

(I cannot check the correct box 2a on the Mortgage Interest Worksheet - "I did not receive a 1098")

Does he just pretend he has a 1098 in TurboTax with the correct numbers AS IF WE DID send him an actual 1098?

 

 

DavidD66
Employee Tax Expert

How do I enter mortgage interest not on a 1098

Yes, just enter it as if he did receive a Form 1098.

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