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March 2, 2024
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1098 Question

  • March 2, 2024
  • 1 reply
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I have one 1098 for one Motorhome, then we sold it and purchased another MH, however the bank said they don’t send out 1098 for MH.  I printed the mortgage interest but can I claim it without a 1098?  Thank you!

Best answer by KrisD15

Yes, select "None of the above" on the "Do any of these situations apply?" screen and continue to fill out the information as if you had a 1098. 

 

According to the IRS

“For you to take a home mortgage interest deduction, your debt must be secured by a qualified home. This means your main home or your second home. A home includes a house, condominium, cooperative, mobile home, house trailer, boat, or similar property that has sleeping, cooking, and toilet facilities.”

“If you make payments to a financial institution, or to a person whose business is making loans, you should get Form 1098 or a similar statement from the lender. This form will show the amount of interest to enter on line 13. Also, include on this line any other interest payments made on debts secured by a qualified home for which you didn't receive a Form 1098.”

1 reply

KrisD15
KrisD15Answer
March 2, 2024

Yes, select "None of the above" on the "Do any of these situations apply?" screen and continue to fill out the information as if you had a 1098. 

 

According to the IRS

“For you to take a home mortgage interest deduction, your debt must be secured by a qualified home. This means your main home or your second home. A home includes a house, condominium, cooperative, mobile home, house trailer, boat, or similar property that has sleeping, cooking, and toilet facilities.”

“If you make payments to a financial institution, or to a person whose business is making loans, you should get Form 1098 or a similar statement from the lender. This form will show the amount of interest to enter on line 13. Also, include on this line any other interest payments made on debts secured by a qualified home for which you didn't receive a Form 1098.”

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