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Deductions & credits
First off, I meant lien. Typo.
This is a mortgage I purchased from another company who originated the loan. My Sep-IRA holds the loan and the property. I paid the seller for the property in full from my SEP-IRA and picked up the loan. The home buyers in SC pay my SEP-IRA monthly P&I. It is an investment property that I am selling to the home-buyers who live in the home. I am acting as a bank. Since it is within my SEP-IRA, I am assuming I need not do anything IRS wise for myself. I do believe I need to send the home-buyer a 1098. Will Turbo-Tax help me with that?
‎December 22, 2022
6:56 AM