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cocodixie2
New Member

Form 1098 I received on line2 says outstanding principle of 12480.79 I used the loan to purchase another place. What amount do I put for use of loan?

 
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Vanessa
Level 3

Form 1098 I received on line2 says outstanding principle of 12480.79 I used the loan to purchase another place. What amount do I put for use of loan?

If the loan was not used to buy, build or substantially improve the home that the mortgage is on, you would not enter the 1098 as it would not be tax deductible under the new tax laws.

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Vanessa
Level 3

Form 1098 I received on line2 says outstanding principle of 12480.79 I used the loan to purchase another place. What amount do I put for use of loan?

If the loan was not used to buy, build or substantially improve the home that the mortgage is on, you would not enter the 1098 as it would not be tax deductible under the new tax laws.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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