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Level 1
posted Feb 10, 2020 7:53:15 PM

Will I get fined or something if I forgot to enter information from a 1098B? Program didn't ask for the info.

I sold a home and have a construction loan. Information from  1098 for home sold is entered on taxes but I was never asked for 1098B.

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3 Replies
Expert Alumni
Feb 10, 2020 8:47:14 PM

1099-B or 1098 or 1099-S?

Level 1
Feb 12, 2020 3:46:20 PM

It says 1098B. Its from the bank we have our construction loan with.

Expert Alumni
Feb 12, 2020 3:59:01 PM

1098-B reports the mortgage interest paid, real estate taxes paid and private mortgage insurance paid.

 

You are not required to report this information as an itemized deduction on Schedule A of the 1040.

 

You can simply take the Standard Deduction and not file form 1040 Schedule A.

 

Please see this TurboTax Help.