Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
m_jake
New Member

We paid off our house this year. Where do I put this amount at?

 
1 Best answer

Accepted Solutions
dogongulf
Level 3

We paid off our house this year. Where do I put this amount at?

Unless you used tax-deferred money (e.g., IRA) to pay off your mortgage, there are no tax implications of your actions. And, hence, no need to enter that amount anywhere.

View solution in original post

7 Replies
dogongulf
Level 3

We paid off our house this year. Where do I put this amount at?

Unless you used tax-deferred money (e.g., IRA) to pay off your mortgage, there are no tax implications of your actions. And, hence, no need to enter that amount anywhere.

View solution in original post

m_jake
New Member

We paid off our house this year. Where do I put this amount at?

I did cash in annuity for payment.
m_jake
New Member

We paid off our house this year. Where do I put this amount at?

So where do I enter the amount
dogongulf
Level 3

We paid off our house this year. Where do I put this amount at?

You should have received a 1099R reporting the sale of the annuity.
m_jake
New Member

We paid off our house this year. Where do I put this amount at?

We did.  So reporting the 1099R and interest paid from the bank is all I show?
m_jake
New Member

We paid off our house this year. Where do I put this amount at?

Nothing to put anywhere else on the form?  My first year doing this so i am mis-judging myself
VolvoGirl
Level 15

We paid off our house this year. Where do I put this amount at?

You can only enter and deduct the mortgage interest you paid (and property tax).  Nothing special about paying it off.

If you cashed in an Annuity or IRA you should have a 1099R for it.  That will be taxable income, not a deduction.
Dynamic AdsDynamic Ads
Privacy Settings
v