- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Should I worry over a mortgage/interest statement, less than a year of paying, thats being paid by 50/50 investment company but is in my name? Should I worry with IRS?
should i worry about a mortgage and interest statement, thats less than a full year of payment, thats being paid by our real estate company but in my personal name? Should I worry about the IRS if this form 1098 is filed under the business since that entity has been paying for everything?
May 31, 2019
7:57 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Does the business file a separate tax return?
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
May 31, 2019
7:57 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
yes, we will be having a tax company file for the business alone
May 31, 2019
7:57 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
No, because you are an owner of the company that has assumed payment of the mortgage, and files its own tax return, you are not required to include the information from Form 1098 on your personal tax return. Instead, forward the form to the firm handling the company's tax return so the correct information is reported to the IRS.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
May 31, 2019
7:57 PM