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My loan is above $750k. Will I be audited if I remove the 1098 declarations from my filing? I am taking the standard deduction. Like the others, I have paid TurboTax and I cannot file my taxes.
No, you will not be audited because you do not have your Schedule A populated when you are taking the standard deduction. There is, of course, no guarantee you wouldn't get audited for some other reason, but not reporting your 1098s and taking the standard deduction is not a concern.
@User1238
My California refund dropped by a significant amount when I removed the two 1098 forms. Removing them doesn't seem to be a solution. I'm back to square one, unable to file my taxes.
I removed the 1098 of the older of my two loans because the points were declared in past years so removing it did not change the state refund amount. With just one 1098 I am now able to file my taxes.
I am also still stuck at this stage, waiting for the Schedule A worksheet to be updated "after February 17th."
Does TurboTax know when this will be updated? Even an estimate would be helpful. Thanks
Today the worksheet is STILL not available 2/22/2022 and therefore we still cannot file taxes. When will turbotax have this available to its users??
Per the IRS forms availability for Turbo Tax, Schedule A is currently showing as available. As of this moment are you still not showing it as available? @jgs5 @taxfiler12.
Schedule A is available, however, the Mortgage deductible worksheet for schedule A is not. This pertains to anyone with 2 mortgages or those that had refied their loan in 2021
It is not available in Turbo Tax. The software says:
"This form has not been finalized for returns with two or more mortgages and limited mortgage interest. We expect this form to be available after February 17th."
Is TurboTax paying attention to this? I paid $80 to file my taxes, and have not received any communication from the Company.
I do appreciate your reply!
@jgs5 wrote:
It is not available in Turbo Tax. The software says:
"This form has not been finalized for returns with two or more mortgages and limited mortgage interest. We expect this form to be available after February 17th."
Is TurboTax paying attention to this? I paid $80 to file my taxes, and have not received any communication from the Company.
I do appreciate your reply!
See this TurboTax support FAQ for the Deductible Mortgage Interest Worksheet problem - https://ttlc.intuit.com/community/homeowner-tax-credits-and-deductions/help/why-isn-t-my-deductible-...
I sold a home and bought a new one but the mortgages overlapped by a couple of months. Taking the standard deduction. Can I just delete the 1098s and move on with my life? I as many others in this thread am very frustrated that TT charged my card and now tells me at some point after Feb 17th this form will be available. Also getting hit with the File before Feb 28th to save $30 message is mildly infuriating.
Yes, you may just delete the 1098s and move on with your life. Form 1098 is an informational form and if you are taking the standard deduction there is no need to enter your form 1098 into your tax return.
I cannot remove my 1098s or it changes my refund. I did not file the standard deduction. TT took my card and charged me but says I cannot file. It says the form will be available after 2/17 and it is now 2/23. Also, says I loose the $30 if not filed soon. When will this form be available?
@moiracbarker wrote:
I cannot remove my 1098s or it changes my refund. I did not file the standard deduction. TT took my card and charged me but says I cannot file. It says the form will be available after 2/17 and it is now 2/23. Also, says I loose the $30 if not filed soon. When will this form be available?
See this TurboTax support FAQ for the Deductible Mortgage Interest Worksheet problem - https://ttlc.intuit.com/community/homeowner-tax-credits-and-deductions/help/why-isn-t-my-deductible-...
Maybe try to get in touch with TurboTax billing administration directly versus this chat. Explain you're about to lose out on a $30 savings because of the Schedule A worksheet issue and see if they can help get it fixed or provide you an extension on the $30.
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