My mother passed away last year, and she had a partial reverse mortgage on her house. I inherited the house to live in as my primary residence, I'm the only child. I inherited the house, then refied the reverse mortgage into a traditional mortgage in my name. The refi paid off the reverse mortage. The reverse mortgage company sent a 1098 in the name of my Mom's estate with her SSN. It shows the full interest paid off and all that. Technically her estate did not pay off the mortgage, the refi in my name did. She was however obviously listed as the original borrower. How do I list that on taxes? Should I be eligible for for any deductions as my refi paid off the reverse mortgage? Or does it go on her final year taxes, or separate estate taxes?
Any help or insight would be so appreciated as this is very confusing.
