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Investors & landlords
Yes, you should receive Form 1098 from all lenders to report the Rental Mortgage Interest you paid during the year.
Loan principal transactions (paying off a mortgage, assuming new debt, etc.) are not taxable transactions and have no tax deductions. Only the interest on secured debt is reported on your tax return.
When you have the information from the lenders, open your return, then go to My Account >> Tools >> Topic Search. Type in "mortgage interest, rental properties", then click the topic in the list and GO to go directly to the start of this section. You may need to work through the interview screens until you reach the rental mortgage page.
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May 31, 2019
8:18 PM