turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

swkrouse
New Member

Where do I recognize points paid when they are not noted on the Form 1098?

We refinanced this past October and paid points to the Company A with which we conducted the transaction.  Before the first regular payment was due, the loan was transferred to Company B.  We received the Form 1098 from Company B, but it does not denote the points we paid presumable because they were paid to Company A.  Company A is telling us to take the points off the settlement sheet, but I do not know were to insert them in Turbo Tax.  Turbo Tax asks if we paid points to Company B and technically we did not.  But are we supposed to say we did?  Just trying to do the right thing...

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
JohnB5677
Expert Alumni

Where do I recognize points paid when they are not noted on the Form 1098?

Yes you can enter them into the Mortgage Interest and Refinancing (Form 1098) section of TurboTax.

 

To enter your 1098 Mortgage Interest statement.

  1. Log into TurboTax
  2. Select Deductions and Credits [Review/Edit]
  3. Mortgage Interest and Refinancing (Form 1098) [Edit/Add]
  4. Add a other 1098 or select your bank
  5. Continue to follow the interview
  6. Did you pay points in 2020 when you took out the loan?
  7. We paid points when we refinanced, purchased a second home, or opened a home equity loan in 2020
  8. Tell us about the points you paid on your mortgage
  9. Enter your information here.

Note: if you enter your property taxes from your 1098 you will not have to enter them again in the property tax section

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question