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Question

1098

Forum|Forum|1 year ago
February 3, 2025
1 reply
0 views

Sold house march 2024 received 1098 from that lender and shows outstanding mortgage.

Purchased house March 2024 and was in cash no lender

Do i still put outstanding mortgage on the 1098 from previous lender?

If you are filing for itemized deductions, input the details from your received Form 1098. To be advantageous, your itemized deductions must exceed the Standard Deduction you are receiving according to your filing status. If you don't know which option is best for you, just enter your deduction information and TurboTax will figure it out for you.

The balance on your Form 1098, is the outstanding principal on the mortgage as of January 1 of the calendar year.

What's my standard deduction for 2024?

What are Itemized Tax Deductions?