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Author: glazo Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121095  
Subject: Turbo tax question Date: 3/15/2001 11:29 AM
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I purchase a home last year and I am trying to fully deduct the points this year, (not amortize) but in the deductions/mortgage interest summary of the turbo tax just the interest are shown, I don't see the points added in that summary, Is this correct or is there something else I am missing? please help
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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 48461 of 121095
Subject: Re: Turbo tax question Date: 3/15/2001 11:40 AM
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I purchase a home last year and I am trying to fully deduct the points this year, (not amortize) but in the deductions/mortgage interest summary of the turbo tax just the interest are shown, I don't see the points added in that summary, Is this correct or is there something else I am missing?

Open the 1098 worksheet and make sure all the numbers are there. If the points were not reported on the 1098, they go on a different Schedule A line. Go to that line, right-click, and go to the source for that line.

Phil Marti

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Author: glazo Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 48464 of 121095
Subject: Re: Turbo tax question Date: 3/15/2001 12:00 PM
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I open the 1098 worksheet and everything is in there -->>interest (box 1) and points (box 2), but when i come out to the "summary" just the interest from box 1 are shown, I was expecting to see a amount of the interest plus the points. Please advice

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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 48479 of 121095
Subject: Re: Turbo tax question Date: 3/15/2001 4:43 PM
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I open the 1098 worksheet and everything is in there -->>interest (box 1) and points (box 2), but when i come out to the "summary" just the interest from box 1 are shown, I was expecting to see a amount of the interest plus the points.

I'm not familiar with this interest summary. If you look at Schedule A you should see the total on line 10. If you're not, the best I can suggest is an override or a call to TT support.

Phil Marti

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Author: irasmilo Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 48498 of 121095
Subject: Re: Turbo tax question Date: 3/15/2001 7:26 PM
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If you entered the mortgage interest on line 3 and the points on line 4 of the mortgage interest worksheet, the total should carry to line 5a of the tax and interest deduction worksheet (and ultimately to Sch. A).

Ira

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