1098 Mortgage Acquisition Date

Forum|Forum|3 years ago
February 2, 2023
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I am a shareholder in a cooperative apartment building in NYC.

Each year, shareholders get a 1098 with information pertaining to the mortgage on our building.

The 1098 has a date in Box 11 - Mortgage acquisition date. The date is 4/21/22 which may or may not be relevant to this inquiry. The 1098 does NOT have any date in Box 3 - Mortgage origination date. TurboTax indicates this box must have a value.

This is not my personal mortgage. I don't have a mortgage for my apartment. This is the mortgage on our cooperative building.

Is mortgage acquisition date, Box 3, something that is usually resident on the 1098 form or is it maybe an oversight on the part of the accountant for not including it on the form? I can contact our Managing Agent to see if I can get this date if absolutely necessary that it be input.

Best answer by AmyC

Not necessary. The only thing reported on sch A is the amount of interest.

The program asks for dates to use worksheets behind the scenes for the limitations. I am going to assume that your mortgage interest is below $750,000 for your share of the building. In that case, any date will work in the program.

If your interest is higher, please see the instructions for calculating the allowed amounts and just enter the allowed amount. About Publication 936, Home Mortgage Interest Deduction

AmyCAnswer

Level 15

Not necessary. The only thing reported on sch A is the amount of interest.

If your interest is higher, please see the instructions for calculating the allowed amounts and just enter the allowed amount. About Publication 936, Home Mortgage Interest Deduction

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