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

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

I live in a NYC coop. The building sent a 1098 for the mortgage int and gave per share deductions for interest and real estate tax. Where do I enter the interest?

 
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.

3 Replies
ThomasM125
Employee Tax Expert

I live in a NYC coop. The building sent a 1098 for the mortgage int and gave per share deductions for interest and real estate tax. Where do I enter the interest?

You can enter your mortgage interest and property tax in TurboTax by using these menu tabs:

  1. Deductions and credits
  2. Your Home
  3. Mortgage Interest (for the interest) or Property Taxes (for the tax)

These are itemized deductions, so they may not reduce your income tax if you don't have enough itemized deductions to allow you to take the itemized deductions versus the standard deduction.

 

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

I live in a NYC coop. The building sent a 1098 for the mortgage int and gave per share deductions for interest and real estate tax. Where do I enter the interest?

Thanks for the reply. Yes, I had already accessed the menu tabs you suggested and entered my real estate tax by multiplying my number of shares by the price per share. The issue is the interest per share. The Form 1098 I was sent, has a section Mortgage Interest that is already filled in, but it doesn't match my interest price per share. Am I supposed to add my interest price per share to that same box? Thanks again for your help!

ToddL99
Expert Alumni

I live in a NYC coop. The building sent a 1098 for the mortgage int and gave per share deductions for interest and real estate tax. Where do I enter the interest?

Enter the two interest components separately, as if you received two (2) Form 1098s.

 

The 1098 Mortgage Interest Statement you received reports interest you paid on the purchase of your unit.

 

The "interest/share" information you received from the coop management is your share of the mortgage interest on the common-use areas of the coop (e.g. lobby, exercise/shopping areas, parking garage/lots, etc.).

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question