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ZorbaWL
Returning Member

Mortgage interest without 1098

I have a coop in NYC.  The CPA for the coop sent me a letter with personal tax deductions on mortgage interest and real estate tax information based on the number of shares I have with the coop.  Therefore, there is no 1098 form except for the CPA letter.  I am unable to enter the mortgage interest in TurboTax via the software, as I have no "origination date" and other information except the interest amount.  After reading some comments, I entered the interest directly on Schedule A, line 8b.  However, TurboTax did not take this into the tax calculation...it seems the 8b entry was totally ignored.  The reason I think so is because I created a fake 1098 using the Q&A process in TurboTax using the mortgage interest from the CPA letter.  It led to a lower tax. 

 

How can I enter the mortgage interest in TurboTax?

 

In previous years, I was able to enter the mortgage interest with other tax software, e.g. TaxSlayer and TaxAct, with just the coop name and EIN.  But, in TurboTax I have to provide origination date and other info as though I received a regular 1098 form.

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2 Replies

Mortgage interest without 1098

Turbotax does not seem to have a workaround (in the online version) to my knowledge. perhaps someone else can help

in the desktop versions you can enter the interest using forms mode

the CPA should have sent details

 

 

ZorbaWL
Returning Member

Mortgage interest without 1098

I am using the desktop version.  The CPA only provided the deductions for a single share, which Ican use to calculate my personal deductions based on the number of shares I own.  The letter did not provide information on how to enter the information on 1040 or any software.

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