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I made an error recording my interest for my mortgage. My actual interest was 4,427.00. I put in 45,683.00 on an 80,00 mortgage. Why didnt T.T. Pick that UP?

 
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4 Replies
ReginaM
Expert Alumni

I made an error recording my interest for my mortgage. My actual interest was 4,427.00. I put in 45,683.00 on an 80,00 mortgage. Why didnt T.T. Pick that UP?

Your 1098 information is not matched up to governmental documents in TurboTax.  If you haven't already filed you can correct this in TurboTax by  following these steps:

  1. Select Search in the top right hand side of your screen,
  2. Enter Mortgage Interest,
  3. Select Jump to Mortgage Interest,
  4. Select Edit next to your Mortgage Lender.

 

 

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I made an error recording my interest for my mortgage. My actual interest was 4,427.00. I put in 45,683.00 on an 80,00 mortgage. Why didnt T.T. Pick that UP?

I have already filed tax return.  IRS has accepted it.  Will they catch it with the 1098?  Or do I have to amend return?

Tu

Marcy

Hal_Al
Level 15

I made an error recording my interest for my mortgage. My actual interest was 4,427.00. I put in 45,683.00 on an 80,00 mortgage. Why didnt T.T. Pick that UP?

You can only wait and see. Normally there would not be any 1098 matching at filing time; so you will probably get your full refund. Then you will have to amend.

 

With that large amount, there is  a possibility of a hold up.

I made an error recording my interest for my mortgage. My actual interest was 4,427.00. I put in 45,683.00 on an 80,00 mortgage. Why didnt T.T. Pick that UP?

Maybe in the future it should be.  So someone else wouldnt find them else in the same position.  I just dont understand why T.T. didn t pick up on this.  $80,000 mortgage, $40,000 in interest.  Its obviously a typo.  I know i am obviously partily to blame for this for not reviewing the my 1040.

 

 

 

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