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New Member
posted Feb 5, 2022 10:53:54 AM

I just got a 1098 for a refinance of my home. In block 1, my mortgage holder put interest at $500. Is this income or deduction?

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1 Replies
Expert Alumni
Feb 5, 2022 11:15:24 AM

The amount shown in Box 1 of the 1098 is the amount of interest that you paid the mortgage holder. That number is a deduction that will be included with your other itemized deductions on Schedule A. 

 

Here is a TurboTax Help article to let you know how to enter this information into your tax return.