Where do I enter a 2022 Form 1098 just received for a rental house sold & closed on 12/31/2021? All documents filed for 2021 incl. 2021 Form 1098 & no longer in system.

Forum|Forum|3 years ago
February 10, 2023
2 replies
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The 2022 Form 1098 is showing additional mortgage interest paid. The property has dropped from TurboTax so I don't know where to enter this interest.

TurboTax Online

ThomasM125

You would need to amend your 2021 return to report the mortgage interest so that it is matched up with the rental income reported in that year.

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ways2saveAuthor

Thanks but I didn't own it in 2022 as it closed in 2021 and I paid nothing or had no relationship with this mortgage company in 2022.

DianeW777

If you decide you don't want to amend your 2021 tax return as indicated by our tax expert @ThomasM125, then there is no deduction if it was not your home. It is not an allowable deduction in 2022 since you sold the property in 2021 and the rental activity is gone.

It seems like a mistake to me since the property was sold and paid off in 2021. You may want to check with the lender to see if a mistake was made in issuing the form in 2022.

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