1098 form, do I input info into Turbo Tax if it's not in "Box 5" of the 1098 Form

[Libbilan12]

I have a 1098 form, and an FHA loan. On Turbo tax, it asks for "Box 5 Mortgage Insurance Premiums," and below another box asking for "property taxes paid." On my 1098 form, "box 5" is empty, but below the "boxes" is a "disbursement activity for 2017" and lists the following: FHA/Conv Mortg Ins, Hazard Insurance, Property taxes, and Escrow refund" (along with amount coinciding to all).

Question is, do I combine the FHA/Con Mort. Isn and Hazard Insurance, to input into Turbo Tax as the "Box 5 Mortgage Insurance Premiums?" And same for the Property taxes listed on the 1098, would I input those into Turbo Tax where it's asking?

[LisaBr · Accepted solution]

You do not add anything in your 1098, Box 5.  Mortgage Insurance Premiums is a specific type of mortgage insurance taken out to guarantee the payment of the loan.  It is not related to the normal insurance on a home referred to in the disbursement activity.  The IRS does not allow us to deduct these expenses on our homes.

Yes, you will input the Property tax figure in the Property Tax box in this 1098 form on TurboTax.

https://ttlc.intuit.com/questions/2900645-can-i-deduct-my-homeowner-s-insurance

[Libbilan12]

Thank you Lisa, for your help!

[shanndy007]

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