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WB122
New Member

I paid off the loan from Citadel. I didn't get any interest from them this year cause I paid nothing this year

It was a car loan.  I don't have any 1099INT
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6 Replies

I paid off the loan from Citadel. I didn't get any interest from them this year cause I paid nothing this year

You could receive a 1099INT for interest that was paid TO you, not for interest that you paid on a loan.   You do not have anything to enter about your car loan.   

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
WB122
New Member

I paid off the loan from Citadel. I didn't get any interest from them this year cause I paid nothing this year

I don’t have a 1099int for 2020.  The one you show is for 2019.

I have a 1098 from my mortgage company for interest but not a 1099.

plus when I started this Deluxe it $60 now I was shown $90.

Im not here to play games.  I stopped because I was so frustrated.  When I decide to start over I’ll find someone who provides what I need.  We started off with Turbo Tax showing me an item that was history.  2019. Your answer indicates I didn’t know what I was doing. Didn’t know what interest was.  I’m 71 years old.  I will find someone who can relate and provide what I need.  Maybe my mortgage co gave me the wrong number document. 
When I am relaxed and ready, I can continue.  I have plenty of time.

I paid off the loan from Citadel. I didn't get any interest from them this year cause I paid nothing this year

Perhaps you could explain more.....your original question is about a Citadel loan you say you paid off and then you mention it was a car loan.    Then you mentioned a 1099INT.   

 

If you paid mortgage interest in 2020 you should have a 1098 from your lender.  Enter it here:

 

Go to Federal> Deductions and Credits> Your Home to enter mortgage interest, property taxes, private mortgage insurance (PMI) and loan origination fees (“points”) that you paid in 2020.  You should have a 1098 from your mortgage lender that shows this information.  Lenders send these in January/early February.

 

 

As for your TurboTax fees---- we cannot see what version of the software you are posting from so we do not know if you have somehow upgraded to a more expensive version.   The current price for online Deluxe is $40---which will increase to $60 on March 1.   If you are seeing a higher fee that indicates you may have upgraded to a different version.

 

How can I see my TurboTax  fees?   

https://ttlc.intuit.com/questions/2565973-how-do-i-review-my-fees-in-turbotax-online

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Carl
Level 15

I paid off the loan from Citadel. I didn't get any interest from them this year cause I paid nothing this year

- Interest you pay on a car loan is not deductible on any tax return. (If the car was used "and claimed" as a business asset in a business that you own, that changes things)

- A 1099-INT is issued to you to report interest paid to you. That's it. That interest is income that you are required to report on your tax return, and pay taxes on if applicable.

- A 1098-Mortgage Interest Statement is issued to you by a lender that *you* paid interest to. That interest may (or may not) be deductible from your taxable income. Where you enter that 1098 depends on what type of property that form was issued to you for. If for your personal residence, it gets entered in the "Your Home" section under the deductions and credits tab. If for rental property that you own, it gets entered under the Personal Income tab in Business Items - Rental & Royalty Income (SCH E).

If for other business property that you own, it gets entered under the Personal Income tab in Business Items - Business Income & Expenses (SCH C) section.

 

WB122
New Member

I paid off the loan from Citadel. I didn't get any interest from them this year cause I paid nothing this year

I replied about this yesterday.

 I have 1098 for interest from my mortgage.

I have no 1099INT 

I paid off the loan from Citadel. I didn't get any interest from them this year cause I paid nothing this year

@WB122 You were given help for where to enter the 1098 for your mortgage interest.  Do you have any other questions that you need help with?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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