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Where in the turbo tax do I put the prepaid interest I paid to the title company when I purchased my new home.

 
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DS30
New Member

Where in the turbo tax do I put the prepaid interest I paid to the title company when I purchased my new home.

It depends -

If this is prepaid mortgage interest, then you can include this interest paid during the year on your new home purchase as additional interest under the home section.

You should have received a Form 1098 for any mortgage interest payments. If you did not, you can still enter it under this section but you will want to check the box on the that Form 1098 is different from what you received and enter and explanation (See screenshot)

To enter Business income and expense information in TurboTax, log into your tax return (for TurboTax Online sign-in, click Here and click on "Take me to my return") type "Schedule a" in the search bar then select "jump to Schedule a". TurboTax will guide you in entering this information.

If this is some other type of interest payment not related to a loan on you new home, then you will not be able to deduct this payment, Instead you will add the payment to the cost basis in the home.


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