No form 1098 for my home equity line of credit

[leisha]

So how do I enter it? It wants 1098 box 1, but I just have the total from my December credit union statement.

[AmyW]

You can deduct the interest for your home equity loan even if you did not receive a 1098. You can enter this by following the steps below:

https://ttlc.intuit.com/replies/4793767

Note: Make sure you choose the option I did not receive a 1098 after you add your lender. 

To learn more about mortgage interest deductions, see the link below:

https://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Deducting-Mortgage-Interest-FAQs/INF12...

[leisha]

You just gave me the same and only answer I found all over your website. I do not have a 1098, so I can't enter the numbers from the 1098. All I have is the total interest paid from my credit union statement. Where do I enter it?

[AmyW]

As stated in the note above, there is an option for not receiving a 1098 after entering the lender.

[leisha]

I will try it. What throws me off is the instructions plainly state: "Follow the onscreen instructions to enter the rest of the information on your 1098 form" and do not explicitly state no 1098 is required. It would help if this item were clarified.

[leisha]

So, I enter my lender and it asks for 1098 info, same as before. The instructions you provided don't work. What do I do? There's a link that says what if I don't have a 1098, but the answer that pops up says that content isn't available. I am just going around and around here, with no answer that works.

[AmyW]

The pop up box for "What if I don't have a 1098 says "That’s OK. You can get your mortgage info by going to your lender’s website. Other documents, like your monthly mortgage bills and your Closing Disclosure (or HUD-1), will also have some of this info.
Your lender should send you a 1098 by January 31, so if you haven’t received one by then, contact them."

It is instructing you to enter the information that you have into the form.

[leisha]

I asked my credit union for a 1098 for my HELOC. They will reply within 2 business days, but I need to get my taxes done now, not wait for the busy week ahead and lose sleep over it. And I need this deduction. Frustrating!

[AmyW]

As stated, you can enter the information that you have with the interest if you did not receive a 1098. However, if the information is inaccurate then you may have to file an amended tax return since all tax documents are filed with the IRS.

[leisha]

So I have this option: "The seller is financing this loan and we didn't receive a 1098," but the seller is not financing this loan. That is not true. There isn't an option that simply says I did not receive a 1098. Selco has never sent me a 1098 for my HELOC.

[leisha]

Okay, so I am just going to lie and pretend I have a 1098. I am guessing Box 1 is where I put the interest I paid, so I am just going for it -- it makes me feel like a liar & cheater, hacking the easy, limited interface because it doesn't offer the option I need. Maybe this could get fixed. Can you kick it up to programmers, managers, whomever can make improvements? Thanks.

[ax1lla]

Did you ever get a proper answer for this?  I have the exact same issue.  Turbo Tax does not check their wording and do not cover all answers.  It's frustrating.  I am also wondering why we did not get a proper 1098.  I thought this legally had to be sent....?

[ax1lla]

Just saw this:

What if I don't have a 1098?
That's OK. You can get your mortgage info by going to your lender's website. Other documents, like your monthly mortgage bills and your Closing Disclosure (or HUD-1), will also have some of this info.

Your lender should send you a 1098 by January 31, so if you haven't received one by then, contact them.

There are a few exceptions where you wouldn't receive a Form 1098:
- If you paid less than $600 in mortgage interest, your lender doesn't have to send you a 1098. You can still get your info using those other sources.
- If you have a loan on an RV or boat that you use as a home, your lender won't send you a 1098. You may still be able to claim this interest.

[KrisD15]

The thread you are responding to is from last season and the wording in the TurboTax program has been changed to accommodate for Taxpayers that are allowed to claim the Home Mortgage Interest, but did not receive a 1098 in their name.  

What is your situation that is making it difficult for you to report the interest in your program? 

[Poo29kum]

I have not received a 1098 and need to enter my interest and tax payment for my refinanced loan.  How and where can I document it?