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Level 1
posted Jun 4, 2019 2:25:13 PM

I took out a Reverse Mortgage in 2018 but rec'd no 1098. How do I enter my info (interst charged, other expenses) ?

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1 Replies
Intuit Alumni
Jun 4, 2019 2:25:14 PM

You cannot deduct the interest on a Reverse Mortgage.  Mortgage interest is deductible in the year it was paid.  On a reverse mortgage, the interest is not paid until the entire loan is paid off.

If you want to enter any real estate taxes paid on the property, please follow these steps:

  1. Click Federal > Deductions & Credits
  2. In the Your Home section, click the Start/Update box next to Property (Real Estate) Taxes
  3. On the next screen, enter the property taxes you paid in 2018.
  4. Click Continue when done.