You'll need to sign in or create an account to connect with an expert.
In TurboTax, you generally do not enter a reverse mortgage on your tax return unless you have actually made payments toward the loan balance. Because reverse mortgage payments you receive are considered loan proceeds rather than income, they are not taxable. If you received a 1098 because you made voluntary payments, you would enter under Home Mortgage Interest.
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.
HoloK
New Member
elpez
Returning Member
geombengi
New Member
mlkozol
New Member
minw1
New Member