Hi @ColeenD3 , thanks a lot for getting back. Not being able to modify Box 2 of 1098 is a bit of a bummer since, from what I understand, that will reduce our deductions :-(. For example, assuming a principal of > $750k, the federal deduction is computed as (Box_1 / Box_2 * 750k). Having $1M or $2M in Box_2 would make a big difference.
Given that that I cannot modify Box_2, I wonder if I can just put the entire property's value into Box_1 (instead of just our units'), since this should give result to the right amount of deductions? For example, in our case, the federal deduction for our own unit should be [ (50%*interest_both_units) / (50%*principal_both_units) * $750k ], which equals [ interest_both_units / principal_both_units * $750k ].
Would that be allowed? Thank you 🙂
