Multiple 1098s with Turbo Tax Desktop

Forum|Forum|4 years ago
March 22, 2022
1 reply
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Hello,

I refinanced my home in January 2021. Then in May, I bought a new home and sold my older home in July. I ended up with 3 1098 forms. I calculated the deductible home mortgage interest using the IRS worksheet in publication 936. I am not able to get the turbo tax software to match up with my manual calculations. TT seems to ignore the interest paid for the older home (both original and refinanced loan).

I came across posts here about combining the 1098s from the refinanced loan into a single one. Even then I was not able to get the numbers to match up.

Does anyone have anysight in handling this the right way?

AmyC

Employee

The tax return only carries one number for mortgage interest on the sch A. The worksheets are not a part of the return. If you want to enter a mortgage balance below $750,000 and then enter the correct amount of mortgage, you can do that.

The program is quite particular in how you enter everything to get it to come out right so I think it is easier to just enter one correct amount.

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