You may need to enter points not reported to you on Form 1098, Mortgage Interest Statement, to determine if they are fully deductible in the current year or if you must deduct them over the life of the loan. See IRS Publication 936 and IRS Topic No. 504 Home Mortgage Points for details.
To enter points not reported to you, follow the steps below.
Online
Dashboard
From within your TaxAct return, click Deductions & Credits.
On smaller devices, click the menu at the top left corner of your screen, then make your selection.
Click the Your Home drop-down.
Click Add beside Mortgage Interest & Refinancing.
Complete the rest of the interview process.
Classic
From within your TaxAct return, click Federal.
On smaller devices, click the menu at the top left corner of your screen, then make your selection.
Click the Itemized or Standard Deductions drop-down, then click Interest expenses.
Continue with the interview process to enter your information.
Desktop
From within your TaxAct return, click Federal.
Click the Itemized or Standard Deductions drop-down, then click Interest expenses.
Complete the rest of the interview process.
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