My father passed away in 2023. He had a reverse mortgage on his home which my sister and I refinanced to pay off. The house was in his name and now in our names. This was all occurred during 2023.
We received two 1098s, one with the payer/borrower listed as "Estate of Fathers Name" from the reverse mortgage lender and another from our new lender with mine and my sisters names listed as payer/borrower. The property securing the mortgage is the address of the property and same on both 1098s.
He has stopped receiving monthly payments years ago and the account was accumulating monthly interest. He was paying nothing. We payed off all of the accumulated interest when we refinanced which was listed on the 1098 from the reverse mortgage company.
My question is can my sister and I list both of the 1098s and the mortgage interest on our taxes, split 50/50?
