Skip to main content
February 7, 2023
Question

I have a 1098 for a construction loan. How do I record that?

  • February 7, 2023
  • 1 reply
  • 0 views
No text available

1 reply

JohnB5677
February 7, 2023

1098 Posting of a construction loan.

 

Select Deductions & Credits

  1. Scroll to Your Home
  2. Select Mortgage Interest and Refinancing (Form 1098)
  3. Did you pay any home loans in 2022? - Yes
  4. Continue
  5. Select your bank, if you select this option, follow the interview.
  6. or change how I enter my form.
  7. Type it by myself!
  8. Follow the interview.

 

For box 2 (Outstanding Mortgage principal)

  1. Your outstanding mortgage principal balance is the amount of money you still owe on your construction loan.
  2. If you took out a new loan, input your original loan balance.
  3.  If your loan was funded before the start of the previous year, input your balance as of January 1, 2022.


 

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