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April 7, 2025
Question

Home Mortgage interest not transferred from 1098 to Sch A

  • April 7, 2025
  • 2 replies
  • 0 views

My worksheet summarizing my 1098s significant interest paid but only the smaller of the amounts 1098s gets transferred to Schedule A. This is for a second home and I thought that might be the problem, but the IRS guidances says that second home interest is deductible. When searching for help I found that TT had the same issue last year as well. Is there someone that can look into this bug?

    2 replies

    LindaS5247
    April 7, 2025

    You can get back to your entry screens in TurboTax for Mortgage Interest to check that your entries are correct as follows:

     

    1.  Click on "Search" (magnifying glass) at the top right of your screen and 
    2. Type "1098" in the search bar. ‌
    3. Click on "Jump to 1098."  This will allow you to review your entries for your mortgage interest from Form 1098

     

    You must answer the question, "Is this loan secured by a property of yours?" as "Yes" in order for your mortgage interest to be included.

     

    You could also try deleting and re-entering your Form 1098 for the home that is not being counted. To do this, use the instructions above for returning to the TurboTax screens for entering your mortgage interest. 

     

    To delete a Form 1098, you can do the following if you are using TurboTax Desktop:

    1. Click on "Forms" at the top right of your TurboTax screen to switch to "Forms Mode"
    2. In your left panel search for "Form 1098"
    3. Click on "Form 1098" and it will appear in your right panel
    4. At the bottom left of your "Form 1098" click on Delete Form
    5. A box will appear to confirm the deletion, Select "Yes"

    If you are using TurboTax Online you can delete a Form 1098  as follows:

    1. Continue your return
    2. Choose "Tax Tools" option on the left menu bar in the federal section of TurboTax
    3. Choose "Tools"
    4. Under "Other Helpful Links" choose "Delete a form"
    5. Find the Form 1098 and click on the option to delete it

    To manually enter a Form 1098 in TurboTax you can do the following:

    1. Click on the search icon at the top right of your TurboTax screen
    2. Type "1098" in the search bar
    3. Click on the link "Jump to 1098"
    4. Enter your Form 1098 and answer all of the follow-up questions accurately

     

    Your screens will look something like this:

     

     

     

     

     

    Click here for "Where do I enter my 1098 mortgage interest statement?"

     

    Click here for additional information on the Mortgage Interest Deduction

     

    Click here for additional information on mortgage interest.

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    April 8, 2025

    Are you sure it is not because your deduction is limited? If the sum of the average balance on your first and second home is over $750K, the amount of deductible interest is limited. Please provide the average balance and interest paid for both mortgages so we can determine if this is the issue.

    April 8, 2025

    I just saw a post on the same issue you are having and the issue was resolved by deleting both 1098's and reentering them. Deleting and reentering only the 1098 that is not transferring doesn't do it.