1098 mortgage interest farm

Forum|Forum|6 years ago
February 8, 2020
1 reply
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Why can’t I enter my farm mortgage interest directly on expense line? There seems to be no ability to enter in later sections. If you jump to 1098 it takes you to personal and assumes this is for home mortgage. This was a frustrating thing with last year too. Worse I can’t e-file if I use override.

TurboTax Home & Biz Windows

KathrynG3

From the left menu>Federal>Income & Expenses>

Scroll to your Farm Income and Farm Rental and click Edit/Add>

Answer the Income questions again to get to the Farm Summary and click Edit>

Scroll down to Farm Expenses>Common farming expenses and click Update>

Scroll to Mortgage Interest to adjust the value>Continue and follow the rest of the prompts.

It does not appear that it otherwise has its own Form 1098 section like the individual section.

wilkc

The instructions for reporting farm mortgage interest are not clear. Are you in form view or step by step? I tried to follow the directions above but there was no "update" button in the premier version. If someone can tell me how to report mortgage interest for a farm without the "override" feature, I would be most appreciative.