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This does successfully move the amount to 8b on Schedule A.
But Turbotax Smart Check seems to not letting me leave the Lender's name blank on the Home Int Wkst....what should I do?
Hi @MonikaK1 When I follow @PatriciaV 's advice, I get the following message during the review stage of my return in TurboTax
"Check This Entry: Home Mortgage Interest Worksheet : Recipient's SSN -OR- Recipient's EIN must be entered."
I am guessing TurboTax Smart Check is freaking out but I can file with the error? Since the "error" is intentional and the error is only for the worksheet which is for my record and not filed with the return?
Try this:
State the lender's name in the Home Mortgage Interview section.
If your Home Interest Worksheet has box 2a checked "no" (because you didn't receive a 1098) and box 12 checked either "yes" (for seller-financed loan) or "no" (since you didn't purchase the property from the recipient of the interest payments), there should be no error in the Review that would prevent you from e-filing. I just tested this in TurboTax Home and Business.
Hi thanks @MonikaK1
If I have 2a checked no and box12 checked "no" (since I didn't purchase the property from the recipient of the interest payments), I see a change on my Schedule A, where previously 8b is populated (which is what I want) but now 8a is populated instead.
Is there a way to have 8b populated and not get errors when trying to file?
or should I directly edit Schedule A to populate 8b removing 8a?
while still keeping the box 2a checked "no" and box 12 checked "no" on my Worksheet?
oh interesting, I just noticed when I select box 12 on the Home Int Wkst to "no" the box 2a would automatically change to "Yes", vise versa, if I checked "yes" on box 12" then 2a is automatically switch to "no"
@MonikaK1 how did you keep both boxes 12 and 2a to be "no" ?
I meant that I tested in Forms mode with 2a as "no", and once with 12a as "Yes" and again with 12a as "no" and didn't get an error in Review either way.
interesting, I am in form mode as well but cannot get both boxes to be checked "no", if 12a is checked "yes" I get an error during Review :(
If you can check 12a "no", and don't get an error, I suggest following that route. With 12a checked "yes", you are saying that the seller financed the loan.
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