How do I enter mortgage interest not on a 1098

[AbrahamT]

Hi,

I got good news for you. I actually got it to show up on Line 8b.

When you carefully go through your input when entering your mortgage interest, you will come across a screen like this

  

Make sure this is checked off.

As far as the 2/3 business expense portion for  his rental income, he would adjust the total figure for that amount and enter it on his Sch E. 

[13153]

Thank you for your response, but Yes, I was already aware that checking that box gets the interest expense onto line 8b on Schedule A in your return. However, as I stated in my prior post (please read it), my case was NOT a “seller financed loan.” The seller was an unrelated third party. The loan was from parents to son. What I am trying to find out from Turbo Tax is how do you get the mortgage interest expense onto line 8b in Schedule A of your tax return when the secured loan was from parent to son so therefore, there is NO form 1098, but it was NOT a seller financed loan. The mortgage is recorded in the county clerks office like any third party lender’s would have been. The loan is secured by the home. 

[AmyC]

The program only uses line 8b with seller financed loans, as you are aware. Line 8a holds the actual 1098 and "none of the above". Which leaves two options for your son.

1. Select none of the above, the mortgage interest goes to line 8a. The IRS may someday inquire about the interest and you provide the amortization schedule or whatever proof you have.

2. Switch to the desktop version, go into forms mode and input the mortgage interest directly on line 8b. This voids the accuracy guarantee of the program. See How do I switch from TurboTax Online to the TurboTax software?

@13153 

[13153]

Thank you so much for your reply. After 6-7 back and forth with several T Tax experts, your response finally addresses the problem. The most important thing here is for you to raise the issue to higher levels within Turbo Tax so that the online version can be properly updated to handle the situation where there is no form 1098 for reasons other than because it was a seller financed loan. There needs to be a button added which can be selected for this so that the mortgage interest expense ends up on line 8b of Schedule A without having to select a box that says it was seller financed. Thank you