Question

Mortgage Interest paid to an individual; no 1098 form issued and not seller financed.

Forum|Forum|3 years ago
January 10, 2023
1 reply
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I have a new mortgage, secured by my primary residence, to an individual for the purpose of the purchase of the home. The individual lender will not issue a 1098 form, but has provided the amount of interest paid.

TurboTax Deluxe Desktop for Mac only seems to have an exception for a seller financed loan with no 1098; the lender in my case is not the seller nor have they provided a SSN/EIN.

How best to report this deductible interest in TurboTax? Thanks.

Critter-3

Just use the seller financed section even though you did not buy the home from the lender (which is the most common way this happens) and they MUST give you their SS# or EIN since the property was the collateral and you MUST also give them the same information for you since they will need it on their tax return Sch B.