Question

We would like to enter the mortgage interest manually as we do not have an active user name or password with the bank and they are trying to import this data

Forum|Forum|5 years ago
May 16, 2021
1 reply
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How do we enter the mortgage interest manually?

TurboTax Deluxe Online

Here's how to manually enter your mortgage interest statement in TurboTax:

With your return open, search for 1098 and select the Jump to link in the search results.
On the Your 1098 info so far screen, select Add another 1098 and Continue.
On the Let's import your tax info screen, select the Change how I enter my form.
On the next page, select Type it in myself.
Continue with the onscreen interview until complete.

The IRS lets you deduct your mortgage interest, but only if you itemize deductions. You can't deduct the principal (the borrowed money you're paying back).