You'll need to sign in or create an account to connect with an expert.
No, There is no need to report the purchase of a new home. Furthermore, there is no mortgage interest to record. So on both issues there is no need to report anything.
You should have paid 3 days worth of interest at the closing (to the end of the month). That is reflected on your closing statement and is deductible in 2020 even if you do not receive a 1098. That is the only item from the new mortgage that would be included on your tax return this year.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
malvinchip
New Member
rumbleystoner420
New Member
jakeschrum138
New Member
djhi849711
New Member
giad429273
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.