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Form 1098 in the TaxAct® program does not automatically account for a mortgage amount that is over one million dollars. You must manually calculate the amount of mortgage interest that is deductible and enter that in the appropriate section of the program.

To enter the information from IRS Form 1098 Mortgage Interest Statement in the TaxAct program:
  1. From within your TaxAct return (Online or Desktop) click on the Federal tab. On smaller devices, click in the upper left-hand corner, then select Federal.
  2. Click Itemized or Standard Deductions to expand the category and then click Interest Expenses
  3. On the screen titled Itemized Deductions - Form 1098 Mortgage Interest, click Yes if the mortgage interest was reported on Form 1098
  4. On the screen titled Form 1098 - Mortgage Interest and Points, enter the deductible amount in the field titled Deductible mortgage interest
If Box 5 of Form 1098 reports real estate (property) taxes paid, enter those taxes as follows:
  1. From within your TaxAct return (Online or Desktop) click on the Federal tab. On smaller devices, click in the upper left-hand corner, then select Federal.
  2. Click Itemized or Standard Deductions to expand the category and then click Taxes Paid
  3. Click Continue on the screen titled Itemized Deductions - State and Local Taxes and then click No twice to reach the screen Itemized Deductions - Real Estate Taxes Paid
  4. Enter the qualified amount of real estate taxes you paid in 2017

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