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Yes, you can use the HUD-1 settlement statement to locate the additional expenses not reported on form 1098. Be careful not to duplicate the expenses. Select Federal Taxes>Deductions & Credits. Enter interest, points, mortgage insurance and property taxes in the Your Home section.
Items on HUD settlement statement that may be deductible:
Other fees, such as commissions, attorney fees, preparation of deed, abstract fees, owner title insurance, recording fees are added to the basis of your home, and not deductible.
https://www.irs.gov/pub/irs-pdf/p936.pdf
Yes, you can use the HUD-1 settlement statement to locate the additional expenses not reported on form 1098. Be careful not to duplicate the expenses. Select Federal Taxes>Deductions & Credits. Enter interest, points, mortgage insurance and property taxes in the Your Home section.
Items on HUD settlement statement that may be deductible:
Other fees, such as commissions, attorney fees, preparation of deed, abstract fees, owner title insurance, recording fees are added to the basis of your home, and not deductible.
https://www.irs.gov/pub/irs-pdf/p936.pdf
I refinanced my primary home on 12/23/20, and paid less than $600 in interest for 2020 based on the timing - so I never received a 1098. I do have the Settlement Statement from the title company, as well as the Closing Disclosures - but I don't know where to enter any information related to fees, points, or interest paid.
Where do I find the correct form in Turbo Tax as I'm only asked for 1098s?
You can add the interest manually in TurboTax from the closing disclosure.
You may need to contact the lender to get their tax ID number.
Points on the refinance are deductible over the period of the loan, so you can deduct this year's allocation of the points only this year.
The remaining closing costs should be added to the basis of the property. No other closing costs will be deductible on your tax return this year.
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