Form 1098 - More Than One Borrower

To enter the information in your TaxAct® return when another individual (other than your spouse if filing a joint return) received a Form 1098 Mortgage Interest Statement for interest you also were liable for:

  1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click the menu icon in the upper left-hand corner, then select Federal
  2. Click Itemized or Standard Deductions in the Federal Quick Q&A Topics menu to expand the category and then click Interest expenses
  3. Click Continue or No until you reach the screen titled Additional mortgage interest information borrower's information 
  4. Click Yes
  5. Click Continue until you reach the screen titled More than one person paid interest and enter the other borrower's information there.

Once the steps above are completed, when you print the return you will see the text See Attached to the right of the amount on Line 11 on Federal Schedule A and a sheet will print with the return titled Additional Mortgage interest Information which is the statement required by the IRS.

Additional Information

Per IRS Publication 936 Home Mortgage Interest Deduction, page 9:

More than one borrower. . If you and at least one other person (other than your spouse if you file a joint return) were liable for and paid interest on a mortgage that was for your home, and the other person received a Form 1098 showing the interest that was paid during the year, attach a statement to your paper return explaining this. Show how much of the interest each of you paid, and give the name and address of the person who received the form. Deduct your share of the interest on Schedule A (Form 1040 or 1040-SR), line 8b, and print "See attached" next to the line. Also, deduct your share of any qualified mortgage insurance premiums on Schedule A (Form 1040 or 1040-SR), line 8d.

Similarly, if you're the payer of record on a mortgage on which there are other borrowers entitled to a deduction for the interest shown on the Form 1098 you received, deduct only your share of the interest on Schedule A (Form 1040 or 1040-SR), line 8a. Let each of the other borrowers know what his or her share is.