Question

Home Mortgage Interest Worksheet for 2004 loan?

Forum|Forum|4 years ago
February 28, 2022
1 reply
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I bought a home in 2003. I signed a different contract in 2004 with a lower interest rate and my 1098 reflects a mortgage acquisition date of 2004. I DID NOT GET ANY CASH when I signed that newer contract.

I'm now being required to answer the question "Were all loan proceeds used ot purchase, build or improve the home secured by this loan?"

My options are YES and NO. I *must* select one of these.

...what proceeds? When? From where? I've never seen this question, and I don't have the option for "I didn't get any proceeds".

P

PattiF

You would answer Yes to the question. The money that was loaned by the mortgage to purchase the house is considered the proceeds of the mortgage loan.

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