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Florvinny
Returning Member

We purchased a second home in 2020 in a different state, where do I enter this information? And/or are there any tax benefits when purchasing a second home?

I'm currently using TurboTax Deluxe, is this the right option?
4 Replies
VolvoGirl
Level 15

We purchased a second home in 2020 in a different state, where do I enter this information? And/or are there any tax benefits when purchasing a second home?

Only thing is you can deduct mortgage interest and property taxes (with limitations) if you Itemize Deductions.   You can enter deductions into Deluxe.

Florvinny
Returning Member

We purchased a second home in 2020 in a different state, where do I enter this information? And/or are there any tax benefits when purchasing a second home?

Can I do this even if I didn't get a form 1098 for the purchase of the second house? We only have the documents from when we purchase took place. 

VolvoGirl
Level 15

We purchased a second home in 2020 in a different state, where do I enter this information? And/or are there any tax benefits when purchasing a second home?

Yes but you need to know how much interest you paid.  All the tax forms haven't come yet.  You may still get a 1098 in the mail.  Everything is slow this year.  

Florvinny
Returning Member

We purchased a second home in 2020 in a different state, where do I enter this information? And/or are there any tax benefits when purchasing a second home?

Thanks for your help!

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