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ppdn95
New Member

On form 1098 do i combine principal mortgage and home equity

I have two 10-98 from same lender showing principal mortgage and home equity.  both list outstanding balance in box 2 , amounts based on the account and two different origination dates
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Accepted Solutions
IreneS
Intuit Alumni

On form 1098 do i combine principal mortgage and home equity

Make two separate entries since you received two 1098 forms.

To enter your home mortgage interest, please follow these steps:

  1. Click on Federal Taxes > Deductions & Credits.
  2. In the Your Home section, click on the Start/Revisit box next to Mortgage Interest, Refinancing, and Insurance.  
  3. If you haven't entered any mortgage information yet, just proceed through the screens, entering the requested information on your first mortgage.  When finished, you will be brought to the Mortgage Deduction summary screen.
  4. If you've already entered information on one loan, you will be brought to the Mortgage deduction summary screen.  Click the Add a Lender box on the Mortgage deduction summary screen.
  5. Proceed through the screens, entering the requested information.


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1 Reply
IreneS
Intuit Alumni

On form 1098 do i combine principal mortgage and home equity

Make two separate entries since you received two 1098 forms.

To enter your home mortgage interest, please follow these steps:

  1. Click on Federal Taxes > Deductions & Credits.
  2. In the Your Home section, click on the Start/Revisit box next to Mortgage Interest, Refinancing, and Insurance.  
  3. If you haven't entered any mortgage information yet, just proceed through the screens, entering the requested information on your first mortgage.  When finished, you will be brought to the Mortgage Deduction summary screen.
  4. If you've already entered information on one loan, you will be brought to the Mortgage deduction summary screen.  Click the Add a Lender box on the Mortgage deduction summary screen.
  5. Proceed through the screens, entering the requested information.


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