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jgordosea
jgordosea, Enrolled Agent
Category: Financial Software
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Where exactly, in TT Home and Business, do I enter mortgage

Resolved Question:

Where exactly, in TT Home and Business, do I enter mortgage interest and tax information for second home?

Please DO NOT respond if you cannot give me EXACT steps for TT.

I don't need general information and IRS form information.

I need TT specific guidance.

Thanks
Submitted: 3 years ago.
Category: Financial Software
Expert:  jgordosea replied 3 years ago.

Greetings,

 

In Home and Business 2012 with the return open

 

Under the Personal tab Choose Deductions and Credits

Choose Explore on My Own (second choice)

 

A second home mortgage interest (not used as an office in home) will be entered:

 

 

In the "Your Home" category Choose Mortgage Interest and Refinancing

(Click on Update or Start to the right of the item description)

 

If you chose start:

Answer the questions

Did you have any home loans in 2012? = Yes

Enter Lender name

Answer check boxes as to new loan, points, etc None of the Above

Enter interest paid

 

If you already had a Lender and interest for a first loan entered , and used Update:

Click on Add a Lender (box on lower left)

Answer the questions

Enter Lender name

Answer check boxes as to new loan, points, etc None of the Above

Enter interest paid

 

When you're finished click Done

 

For property tax the steps are similar but after Explore on My Own

In the "Your Home" category Choose Property Taxes

(Click on Update or Start to the right of the item description)

 

Put the taxes total, along with any taxes from the other loan or paid otherwise during the year on your home(s), in the Your Main Home box.

 

If you prefer instead of entering the total taxes paid you can right click (in Windows) or press <ctrl> and <i> to make a list of Supporting Details with the Description and Amount for the various taxes paid.

 

Please ask if you need more discussion or clarification.

Thank you.

jgordosea and other Financial Software Specialists are ready to help you
Expert:  jgordosea replied 3 years ago.
Were you able to enter the information?

Please ask if you need more help.
Thank you.
Customer: replied 3 years ago.
I am not sure if what I have entered is correct. I have not had a opprtunity to compare with what you have suggested above. I am going to accept your answer and will ask followup questions later.
Expert:  jgordosea replied 3 years ago.

Either you can reopen this thread if you need more help with this issue or start another for a new question.

For a new question that you would like me to answer please just include my name in the question.

Thank you for the opportunity to be of service.