Mortgage Interest - Foreign Home
1
If you have foreign mortgage interest to enter in the program for which you did not receive a Form 1098, follow these steps to enter the information in your TaxACT program:
  1. From within your TaxACT return (Online or Desktop) click on the Federal Q&A tab
  2. Click Itemized or Standard Deductions to expand the category and then click Interest Expenses
  3. Click No and then click No again to reach the screen Itemized Deductions - Mortgage Interest Paid 
Enter the information in the following manner:

  • Name: The name of the individual or financial institution you paid the mortgage interest to
  • Address: Street Address
  • City: City, Province/Country & Postal Code (you may need to abbreviate when entering a foreign address as this field is limited to 20 characters)
  • Both the State and ZIP fields would be left blank (the State field may reflect None Selected)
Enter the information in the last 3 fields on this screen as appropriate for the situation.

Note: Whether you can claim the mortgage interest paid on a foreign loan for a foreign home is a question of tax law. You would need to contact the IRS (1-800-829-1040), as this is not clearly defined in their instructions.