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SJC30215
New Member

Where do I enter my 1098 mortgage interest income? I do not see that option in wages and income.

 
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4 Replies

Where do I enter my 1098 mortgage interest income? I do not see that option in wages and income.

It's in Deductions and Credits > Your Home.   Or, are you receiving interest income from a seller-financed mortgage?

Where do I enter my 1098 mortgage interest income? I do not see that option in wages and income.

If you received interest from someone either as mortgage interest or other interest, enter it like you had received a 1099-INT and put the amount in Box 1. Enter it under….
Federal Taxes Tab
Wages & Income
Interest and Dividends
Interest on 1099INT - Click the Start or Update button

 

Don't enter a bank or broker name and don't try to import it. At the bottom pick - Change How I enter my Form

Then on the next screen pick I'll Type it in Myself

suppa
New Member

Where do I enter my 1098 mortgage interest income? I do not see that option in wages and income.

I sold rental property from my llc, but i am holding the mortgage where do I list this information, and can I print 1099 to send to buyer

PatriciaV
Employee Tax Expert

Where do I enter my 1098 mortgage interest income? I do not see that option in wages and income.

Yes, you can report this interest income under Federal >> Wages & Income >> Less Common Investments and Savings >> Installment Sales. Click Start/Update and follow the interview to report the interest you received.

 

Yes, you may be able to use TurboTax Quick Employer Forms (QEF), a service offered to customers who use the TurboTax BusinessTurboTax Premium Online, and TurboTax Home & Business. This service includes Form 1099-INT but not Form 1098. If you wish to send a 1098, see IRS: About Form 1098, Mortgage Interest Statement.

 

If this sale occurred in the current tax year, report the sale under Rental Properties and Royalties and TurboTax will ask you about an "installment sale" (sale for which you receive payments over two or more years). The interview will guide you from this point.

 

See also: I sold my rental property. How do I report that?

 

@suppa  

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