Add a "do not transfer to next year" box to form 1098 mortgage interest

[txtaxmaster]

Often a client refinances or sells their home and there is no way - other than making a note for next year - to remember that we should not be asking for a particular 1098 in the future.  Making a "do not transfer to next year" check box would alleviate this problem.

[Frustrated-in-IL]

Just check the "paid off" box on Schedule A input.  It won't transfer to next year.

[txtaxmaster]

I appreciate that information very much!  However, I don't believe that will work if it's a rental property or home office - anything that goes somewhere besides the schedule A.

[Frustrated-in-IL]

This is what I do on the Schedule E worksheet.  Whenever there is more than one 1098, I make a supporting statement.  I hit the box in upper right to not print this statement with the return.  On the statement, I list the name of the lender and make a note that it was paid off.  This supporting statement will transfer to the next year.  In the subsequent year, when you look at the schedule E worksheet it will already have a greenish 0 on the line.  That tells me there is a supporting statement.  When you click to open the statement, your note from the prior year is there telling you that XYZ lender was paid off in the prior year.

[txtaxmaster]

Yes - I do something similar.  I think a "do not transfer to next year" box would make the process drastically easier and more efficient.