Question

Home Mortgage Interest Worksheet

Forum|Forum|4 years ago
April 18, 2022
1 reply
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I am having a problem on the Home Mortgage Interest Worksheet. I have entered all of the information that was provided to me on the 1098 from my mortgage on our primary home. When Turbo tax runs the smart check however, it takes me to the screen of Home Mortgage Interest Limitation Smart Worksheet. It wants me to enter in the amount of money that was borrowed in 2021, however it does not allow me to enter this information on the worksheet or anywhere in the turbo tax program. Any suggestions? I am about to just file it without that information because I can not enter it in.

KrisD15

Did you take cash out or purchase the home in 2021?

You might go back the the 1098 input screen and review the entry for that 1098.

Scroll under Deductions & Credits to Your Home, Mortgage Interest.

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K

kpolly0902Author

Yes, we took a loan out. I reviewed that section, specifically box number four which is the one that it wants me to input, but there is not a box 4 on my 1098, nor is there a place to put any information under a box 4 on the section in Turbo tax. I am not sure how to get around this.

R

RaifH

If the mortgage origination date in Box 3 was in 2021, Box 4 on that worksheet would already be filled in. It is possible yours is one from a prior year, but it was a home equity line of credit or a refinance. If it was not your original loan, make sure you answer all the questions after inputting Form 1098:

Answer No to Is this the original loan used to buy your property?
Answer Yes to Is this loan a HELOC or a refinance?
Answer Did you take cash out?
If you did take cash out, answer if you used it all to buy, build, or improve your home.
If you took cash out and did not use it all on your home, enter how much of the loan was used to buy, build, or improve the home and the balance at the end of the year.