Skip to main content
TurboTax
Community
TurboTax
TurboTax
pittjedi
Level 1
March 29, 2022
Solved

Mortgage Interest Question

I was filling out the Mortgage interest form a 1098 and Turbotax is asking for the amount borrowed this year? This is not on the 1098, what do I enter on this part? FYI, I have multiple 1098's since I refi'd last year and the mortgage was sold to another lender.

KrisD15
KrisD15Answer
Alumni - Intuit
March 30, 2022

The law was changed concerning the Home Mortgage Interest Deduction several years ago.

If a person refinances and takes out cash, the interest may need to be limited. 

Form 1098 does not list the information needed to make this calculation. 

 

You need to enter the forms and answer the interview questions carefully. 

Answer Zero for new loan amount. 

 

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

1 reply

KrisD15
KrisD15Answer
Alumni - Intuit
March 30, 2022

The law was changed concerning the Home Mortgage Interest Deduction several years ago.

If a person refinances and takes out cash, the interest may need to be limited. 

Form 1098 does not list the information needed to make this calculation. 

 

You need to enter the forms and answer the interview questions carefully. 

Answer Zero for new loan amount. 

 

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

    Unlock tailored help options in your account

    Create an account
    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Explore your options
    Terms & ConditionsAccessibility statement
    Sitemap
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2026 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, Credit Karma, and Mailchimp are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    About Cookies Manage cookies

    TRUSTe nResult Certified e-File C-Level Security Certification
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    © 2026 Intuit Canada ULC or its affiliated companies. All rights reserved. Intuit, QuickBooks, QB, TurboTax and ProFile are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.

    Copyright © Intuit Canada ULC, 2026. All rights reserved.

    About Cookies Manage cookies

    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    © 2026, Entreprises Intuit Canada ULC ou ses sociétés affiliées. Tous droits réservés. Intuit, QuickBooks, QB, TurboImpôt et ProFile sont des marques déposées d’Intuit Inc. Les modalités, prix, fonctions et options de service et de soutien peuvent changer sans préavis.

    © 2026, Entreprises Intuit Canada ULC. Tous droits réservés.

    À propos des témoins Gérer les témoins