I have the dollar amount of points paid in Box #6 of my Form 1098.
The 2 questions that are asked by the software don't apply to me but when I enter "next", it jumps to the summary page not allowing me to enter the points that I paid. The points don't have to be amortized over the life of the loan.
I get to the screen that says the following:
Be sure to check all that apply to this loan (or refinance):
* I'm spreading the points (amortizing) over the life of my loan.
* No points were paid for this loan.
Neither option apply to me but I never get a chance to enter the points paid!
When you have mortgage points reported on your Form 1098 due to having a loan that originated in the current tax year (2018), double-check your entries to be sure that the loan origination date has been entered correctly.
If the loan origination date is not in the current tax year, you will not see any options to deduct your points directly. You will only have the choice to amortize the points over the life of the loan.
Still have questions?Make a post