Can you calulate 1098 interest

Yes, TurboTax can calculate your home mortgage interest.   To enter your information, search for 1098 and use the Jump to 1098 link.   

Deductible mortgage interest is interest you pay on a loan, secured by a main home or second home, that was used to buy, build, or substantially improve the home. For tax years prior to 2018, the maximum amount of debt eligible for the deduction was $1 million. Beginning in 2018, the maximum amount of debt is limited to $750,000. Mortgages that existed as of December 15, 2017, will continue to receive the same tax treatment as under the old rules. Additionally, for tax years prior to 2018, the interest paid on up to $100,000 of home equity debt was also deductible, raising the previous total to $1,100,000. Loans with deductible interest typically include:

• A mortgage to buy or build your home
• A second mortgage
• A line of credit
• A home equity loan

If the loan is not a secured debt on your home, it is considered a personal loan, and the interest you pay usually isn't deductible. Your home mortgage must be secured by your main home or a second home. You can't deduct interest on a mortgage for a third home, a fourth home, etc.

1. Open or continue your return in TurboTax.
2. Select Search, enter 1098, and select Jump to 1098. If that doesn't work:
   • Select either Tax Home or Federal, then Deductions & Credits.
   • Under Your Home (you may have to select See all tax breaks to find it), select Start or Revisit next to Mortgage Interest and Refinancing (Form 1098).
3. Answer Yes to Did you pay any home loans in 2023?
4. On the Let's get your 1098 form screen, enter the name of your lender to see if you can import your 1098.
   • If you can't or don't want to import, select Change how I enter my form to upload, take a picture of, or manually enter your 1098.
5. Continue through the screens until your 1098 is added.