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1098 Mortgage Interest Statement Form Input

NSBS
Level 2

Where do I input the lender's information for this form? Also, in the Description field, do I just put "mortgage interest paid" and the amount? It looks odd to only have two fields where I can input data after clicking the plus sign (+) to expand the actual input field. The form has more information which seems to not be entered into Proconnect. Please assist. Thanks.

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George4Tacks
Level 15

You are correct in that it only have room for a name (like bank name) and amount and whether T, S, or J

The other information, like address and ein are not important, unless the 1098 does NOT have the TP SSN. If that is the case go to "Home mortgage interest & points on Form" 

The points and real estate taxes that may be on the form are entered in their respective input areas.


Answers are easy. Questions are hard!

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4 Comments 4
George4Tacks
Level 15

You are correct in that it only have room for a name (like bank name) and amount and whether T, S, or J

The other information, like address and ein are not important, unless the 1098 does NOT have the TP SSN. If that is the case go to "Home mortgage interest & points on Form" 

The points and real estate taxes that may be on the form are entered in their respective input areas.


Answers are easy. Questions are hard!
itonewbie
Level 15

Agree with @George4Tacks.

There's actually more than meets the eye in PTO.  If your client has mortgage interest that is subject to limitation, you should take a look at this article to understand how the input should be made: https://proconnect.intuit.com/community/help-articles/help/understanding-excess-home-mortgage-intere...

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Still an AllStar

Hi George, 

 

Do we need to report all the Boxes  of 1098 form,  if yes where do i need to report amount paid towards Taxes on 1098.

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George4Tacks
Level 15

Enter them in Taxes as Real Estate Taxes


Answers are easy. Questions are hard!