You'll need to sign in or create an account to connect with an expert.
Only the interest paid on the loan is reported on a tax return. The lender should have sent you a Form 1098 showing the interest paid.
Mortgage interest is an itemized deduction reported on Schedule A. The total of all your itemized deductions on Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.
Click on Federal on the left side of the online program screen. Click on Deductions & Credits. Under Your Home, on Mortgage Interest and Refinancing (Form 1098), click the start or revisit button
You might get two 1098 forms, one for the old mortgage and one for the new mortgage. If so, enter them both in TurboTax. After you enter the first 1098, when you get to the summary screen, click "Add a Lender" to enter the second 1098. Read the screens carefully.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
evansbob2
New Member
brognac
New Member
dgoerdt-185
New Member
mdktech24
Level 3
nicolepalmer1120
New Member