Question

I paid a lender origination fee for the purchase of my primary home in 2022. I received a 1098, it does not include the origination fee, where do I enter it in TurboTax?

Forum|Forum|3 years ago
April 5, 2023
2 replies
0 views

No text available

TurboTax Deluxe Online

Origination fees are commonly referred to as points. This is pre-paid interest and should be distributed over the life of the loan.

Select Deductions & Credits

Scroll to Your Home
Select Mortgage Interest and Refinancing (Form 1098)
Did you pay any home loans in 2022? - Yes
Continue
Select your bank, if you select this option, follow the interview
or Change how I enter my form
Type it by myself
Follow the interview

You will get the question Did you pay points in 2000 when you took out the loan?
If you’re amortizing the points you paid on your loan, choose I paid points when I refinanced, purchased a second home, or opened a home equity loan...
The next page is Tell us about the points you paid in 2000
Enter your origination fee information here.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

G

gsolagueAuthor

Thank you. My 1098 includes the points and I entered it in TurboTax; however, I paid an origination fee on top of the points, listed in my closing statement on a separate line. The origination fee is not included in the 1098. Where do I enter the origination fee from the closing statement in TurboTax? Thank you.

JohnB5677

You should combine the two amounts on the form stated above.

You can deduct in the year they're paid. Origination fees and/or points paid on a purchase. The IRS considers “mortgage points” to be charges paid to take out a mortgage. They may include origination fees or discount points and represent a percentage of your loan amount. Points that don't meet these requirements may be deducted ratably over the life of the loan.

Keep a copy of the 1098 and the closing document with your tax return in the event it is questioned.

Please see: Topic No. 504 Home Mortgage Points

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

M

Mike9241

not all origination fees are deductible. Only the portion that is a percentage of the loan amount. the application fee and underwriting fee, if present, and others are not deductible