turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cqbert
New Member

I purchased a home using a USDA Rural Reinvestment Act Loan - How do I show the Guarantee Fee for a tax deduction? Is it where Points normally are shown? If not, where?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

I purchased a home using a USDA Rural Reinvestment Act Loan - How do I show the Guarantee Fee for a tax deduction? Is it where Points normally are shown? If not, where?

That would be entered as mortgage insurance, not points.  You can add it to the 1098 or create a separate 1098 for for the guarantee fee.  

MinhT1
Expert Alumni

I purchased a home using a USDA Rural Reinvestment Act Loan - How do I show the Guarantee Fee for a tax deduction? Is it where Points normally are shown? If not, where?

The USDA guarantee fee, like the VA funding fee, is considered as a type of mortgage insurance.

 

You enter it as Mortgage insurance on the 1098 entry screen.

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

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question