turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

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?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
PattiF
Expert Alumni

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?

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.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies