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If you as the seller financed the mortgage -
Click on Federal Taxes (Personal using Home & Business)
Click on Wages & Income (Personal Income using Home & Business
Click on I'll choose what I work on (if shown)
Under Interest and Dividends
On Interest from Seller-Financed Loans, click the start button
I'm using turbotax premium and the menu options you are suggesting are no applicable. Additionally I did not sell the home. I only financed it.
Do you mean that you paid $6211.41 of interest and you want to deduct it on your Schedule A?
@mpholway wrote:
I'm using turbotax premium and the menu options you are suggesting are no applicable. Additionally I did not sell the home. I only financed it.
Click on Federal
Click on Deductions & Credits
Under Your Home
On Mortgage Interest and Refinancing (Form 1098), click on the start button
No, I hold a mortgage for someone and I have to claim the interest income.
You can enter the mortgage interest you receive by selecting the following:
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