Hello,
I received a 1098 form from my coop. I'm not sure what to answer in Turbo Tax. I pay my maintenance and am otherwise not responsible for the the loan.
How should I go about answering this questions?
1. Do any uncommon situations apply?
Someone co-owns this loan, and I only pay a portion of it.
The seller is financing this loan and I didn't receive a 1098.
None of these apply.
2. What kind of property is this loan for?
Primary home This is where you live most of the time—can be a house, condo, mobile home, or other property types.
Second home This is usually a vacation home. It can be rented out part-time as long as you live there for a certain amount of time each year.
Other This includes rentals you don’t live in and business properties.
3. Did you pay points in 2022 when you took out the loan?
I paid points when I refinanced, purchased a second home, or opened a home equity loan in 2022.
I have already deducted all the points I paid in 2022, or I didn't pay any points.
4. Is this 1098 the most recent for your loan?
If you only have one 1098, select Yes.
When you refinance or your lender sells your loan, you’ll get 1098s for the original and the new loan. When this happens, we need to know which is the most recent.
No
5. Let’s get some details about this loan
This helps us know how much interest you can deduct this year. Learn more This loan is a home equity line of credit (HELOC).
This loan is a refinance of a previous loan.
This loan is neither of these.
