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1098 mortgage interest statement box 7 not checked but should be for duplex

Forum|Forum|6 years ago
June 7, 2019
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I received my 1098 Mortgage Interest Statement from my loan servicer. Box 7 is not checked, indicating that I do not reside at the property. However, the property is a duplex, I and my family live in one unit and rent out the other. The property is listed in box 8 as 101 - 102 State St (made up street). Our address is listed as 102 State St. The addresses are all correct.
I plan to claim half the interest deduction on Schedule A (for 102 State St.) and the other half on Schedule E (for 101 State St.). My question is, do I need box 7 to be checked for the IRS to understand that I do in fact live in one unit?

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Best answer by BillM223

***edited***

According to the IRS instructions for the 1098, the mortgage company can, in your case, either check box 7 or enter your address in box 8 (presumably the same as your mailing address). Please see the instructions IRS 1098 Instructions, boxes 7 and 8.

If your mortgage company has not completed boxes 7 and 8 correctly, you may want to contact them to correct future 1098s. And in case the IRS contacts you, you may want to keep in your files proof of residency, such as drivers license, homestead exemption, utility bills that are unique to that unit, etc.

B

BillM223Answer

***edited***

According to the IRS instructions for the 1098, the mortgage company can, in your case, either check box 7 or enter your address in box 8 (presumably the same as your mailing address). Please see the instructions IRS 1098 Instructions, boxes 7 and 8.

If your mortgage company has not completed boxes 7 and 8 correctly, you may want to contact them to correct future 1098s. And in case the IRS contacts you, you may want to keep in your files proof of residency, such as drivers license, homestead exemption, utility bills that are unique to that unit, etc.

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