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Form 1098 - Entering in Program
1
When you enter Form 1098 (Mortgage Interest Statement) in TaxAct, the information flows to the Itemized Deductions section and, if you itemize, appears on Schedule A of your federal return. TaxAct compares your itemized deductions to the standard deduction and uses whichever provides the greater benefit. Mortgage interest is deductible only when the loan is secured by your home and the funds were used to buy, build, or improve it. For mortgages taken out on or after December 16, 2017, interest is deductible on up to $750,000 of qualified mortgage debt ($375,000 if married filing separately), while older loans may qualify for the previous $1,000,000 limit.

To enter Form 1098, Mortgage Interest Statement, follow the steps below.
Online
Dashboard
  1. 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.
  2. Click the Your Home drop-down.
  3. Click Add beside Mortgage Interest & Refinancing. 
  4. Complete the rest of the interview process. 
Classic
  1. 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.
  2. Click the Itemized or Standard Deductions drop-down, then click Interest expenses.
  3. Continue with the interview process to enter your information.
Desktop
  1. From within your TaxAct return, click Federal. 
  2. Click the Itemized or Standard Deductions drop-down, then click Interest expenses.
  3. Complete the rest of the interview process. 
 
To enter Form 1098, real estate (property) taxes paid, follow the steps below. 
Online
Dashboard
  1. 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.
  2. Click the Itemized or Standard Deductions drop-down, then click Interest expenses.
  3. Click Add beside Property (Real Estate) Taxes. 
  4. Complete the rest of the interview process. 
Classic
  1. 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.
  2. Click the Itemized or Standard Deductions drop-down, then click Taxes paid.
  3. Continue with the interview process until you reach the screen titled Enter any other deductible taxes paid in 20YY.
  4. In the data entry field for Type of tax, type "Rental real estate."  
  5. Under Amount paid, enter the amount, then click Continue.
Desktop
  1. From within your TaxAct return, click Federal. 
  2. Click the Itemized or Standard Deductions drop-down, then click Taxes paid.
  3. Continue with the interview process until you reach the screen titled Enter any other deductible taxes paid in 20YY.
  4. In the data entry field for Type of tax, type "Rental real estate."  
  5. Under Amount paid, enter the amount, then click Continue.