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Turbo Tax Home and Business does not allow me to insert 0.00 in Box 2 of 1098. I paid my loan off - there is no balance.

Tried inserting zero's - no good.
Tried leaving it blank as someone suggested - no good.
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7 Replies
JulieS
Expert Alumni

Turbo Tax Home and Business does not allow me to insert 0.00 in Box 2 of 1098. I paid my loan off - there is no balance.

Box 2 is asking for the outstanding mortgage principal as of 1/1/2019, so you should have a figure on your 1098-INT form for box 2.If your mortgage balance was $0 at the beginning of 2019, you can just delete the 1098 entry. 

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Turbo Tax Home and Business does not allow me to insert 0.00 in Box 2 of 1098. I paid my loan off - there is no balance.

Same thing is happening to me, and Turbotax won't advance to the next wscreen if I either leave it bland or put in 0.  How do I get around this? 

AmyC
Employee Tax Expert

Turbo Tax Home and Business does not allow me to insert 0.00 in Box 2 of 1098. I paid my loan off - there is no balance.

The current workaround is to put $1 in the box and continue through the return.

 

Box 2 has different instructions depending on the circumstance. Box 2 is for your balance at the beginning of 2019.

 

If you took out a new loan during 2019, leave it blank.

If you paid off your loan, insert the amount of your balance on January 1, 2019

 

[Edited 01/31/20 | 12:15pm PST]

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dmlljl
New Member

Turbo Tax Home and Business does not allow me to insert 0.00 in Box 2 of 1098. I paid my loan off - there is no balance.

what if I have a 1098, box 1 is $0, box 2 is blank, but there's an amount in box 5? how do I enter this? it won't let me leave box 2 blank

DaveF1006
Employee Tax Expert

Turbo Tax Home and Business does not allow me to insert 0.00 in Box 2 of 1098. I paid my loan off - there is no balance.

Try entering a zero to see if that works.

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dmlljl
New Member

Turbo Tax Home and Business does not allow me to insert 0.00 in Box 2 of 1098. I paid my loan off - there is no balance.

it doesn't allow me to put $0 :(

ThomasM125
Employee Tax Expert

Turbo Tax Home and Business does not allow me to insert 0.00 in Box 2 of 1098. I paid my loan off - there is no balance.

You can enter "1" and it will not affect your income tax or create a problem with your tax filing.

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