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Visitor II

home mortgage interest deduction

I have mortgage interest from a family member and no 1098.  The mortgage interest should appear on line 11 of schedule A.  Turbo tax is putting it on line 10.  I did not receive the loan from the seller.  Nor do I co-own the loan with someone.  how can I get this information to appear on line 11 as the IRS instructions instruct?  HELP.  It is impossible to contact someone at turbotax unless I pay the ridiculous amount of money.  I do not need tax advice.  

1 Comment
TurboTax Specialist

home mortgage interest deduction


There is a box to check when you have a seller-financed loan, especially useful when you do not get a 1098.

 

 

When you enter the data about the family member doing the financing and check this box, the interest will appear on line 11, not 10.

 

In this example, the loan from Fred (the family member) has $9,000 of interest, while $500 in interest came from a normal 1098 loan.