lzo
Level 2

Deductions & credits

Hello - just wanted to respond to this. I contacted the mortgage company and they sent me a "Substitute Form 1099-S", which shows proceeds for the real estate transaction, the gross proceeds of $315k, but no mention of them filing anything, and no mention of the $155k i paid for the house.  So would I have to fill it on my taxes?

 

Also, where would I fill out the taxes paid (as part of the closing process).  The same place as i put the 1098 form data in?  I'm concerned that because the 1098 the mortgage company filed will not match what i fill in, that it will trigger an audit.  It's legitimate, but the 1098 doesn't capture the taxes paid - only the closing statement does