Hello everyone. I already filed my 2023 return and saved it on my
laptop, I used Turbo Tab Delux. I was attempting to file amendment due
to receiving 1098-e but then changed my mind as it wasn't making any
difference. When I started the amendment, it...read more
young11Posted a week ago
| Latest post 15 hours ago by
HollyP
Hi, After entering the mortgage interest paid, there is a section for
"Tell us about how you've used this loan" with the following question:
Since you first took out this loan, how much has been spent to buy,
improve, or build the home it's secured b...read more
young11Posted 4 weeks ago
| Latest post a week ago by
young11
I paid a huge amount of Capital Gains Tax last year from selling my
primary residence property in November 2022, and then bought a new house
(my new primary residence) in November 2023. I read this is a "1031
Exchange" (a tax break for when you use y...read more
ATaoPosted 3 weeks ago
| Latest post 3 weeks ago by
xmasbaby0
Hi,I sold stock in 2023 (and received capital gains) to fund a down
payment on my first house. I did not however seem to receive any tax
benefit (for the home purchase) and instead paid a significant federal
tax on the capital gains. I thought I woul...read more
NM1126Posted April 2, 2024
| Latest post April 2, 2024 by
xmasbaby0
Need clarification about mortgage interest deduction.The acquisition
debt is approximately $350,000. Did a cash out refi of $419,000.$40,000
was used for home improvement. The balance of $29,000 was used towards
purchase of land. It is my understandi...read more
mjm77Posted March 15, 2024
| Latest post March 31, 2024 by
zomboo
I entered mortgage interest deduction on TT and it did not transfer to
Schedule A. I'm using 2023 Premier TT. It is my understanding, I can
continue to deduct the interest on the existing loan balance, less the
small cash out that I did on a refi cas...read more
Hi!Hoping to get some help. I opened up a HELOC in 2017 used it for an
initial purchase of a house (we are renting and still have) and then
paid it off in a month (due to another sale). It's been $0 for 5 or 6
years until I used the HELOC to buy a se...read more
cgb808Posted February 25, 2024
| Latest post February 26, 2024 by
KrisD15
Hi, I co-own a home with my wife. We are both listed parties on the 1098
mortgage interest forms sent to use by our lender for 2023. Her name is
at the top and mine underneath. My question is if my wife is going to
take the full amount on the 1098 as...read more
NeilLottPosted January 26, 2024
| Latest post January 26, 2024 by
NeilLott
Hello,My wife and I got married this year 2023 and we each have had a
home in our names individually. We sold my wife's house one week after
we got married this year (equity from sale less than amount to trigger
CapGains), but she also has another ho...read more
I took out a mortgage loan to buy the empty lot next door. Just using
for personal use. I received a 1098. Can I deduct the loan interest and
real estate taxes?Thanks Doug
carbo71Posted April 4, 2023
| Latest post May 1, 2023 by
Opus 17
Hi I purchased a house in September 2021 for the purpose of rental. I
started renovation on this house right after closing and the renovation
lasted about a year. In September 2022, the property is available for
rent. However, my mortgage interest an...read more
lindan86Posted April 3, 2023
| Latest post April 3, 2023 by
DavidD66
The cell for me to insert my mortgage interest already shows a figure
within it. I am unable to delete that figure to insert the accurate
amount. I am using Turbo Tax Deluxe.
jsc8Posted March 20, 2023
| Latest post March 20, 2023 by
DoninGA
Hello all, We sold our primary residence in 2022 and bought our new
primary residence. I am attempting to input the information from the
sale of our previous home and have come across the adjusted cost basis
section. I began entering information from...read more
I sell on ebay under a single account with my own SS. This last year I
sold off a bunch of items I inherited in addition to my regular
"business" sales. My single 1099-K covers everything. I file my taxes
under my SS using T-Tax Home & Business. I ha...read more