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CSK49
Level 1

Financing Home through Owner

I bought a home last year from the owner to whom I make payments for the purchase.  How do I claim the interest I paid the owner for holding the mortgage on my home.

1 Best answer

Accepted Solutions
DMarkM1
Expert Alumni

Financing Home through Owner

You will enter in the same place as though financing through a bank and receiving a form 1098 in the "Deductions & Credits" tab.

  1. Scroll down to "Your Home"
  2. "Show More"
  3. "Start/revisit" the Mortgage topic
  4. "Yes" and "type it yourself"
  5. Enter the seller's name
  6. Click the option "Seller financing and didn't receive a form 1098"

 

Note:  You will need the sellers information to complete the entries and the seller will need your information as well for their return.

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
DMarkM1
Expert Alumni

Financing Home through Owner

You will enter in the same place as though financing through a bank and receiving a form 1098 in the "Deductions & Credits" tab.

  1. Scroll down to "Your Home"
  2. "Show More"
  3. "Start/revisit" the Mortgage topic
  4. "Yes" and "type it yourself"
  5. Enter the seller's name
  6. Click the option "Seller financing and didn't receive a form 1098"

 

Note:  You will need the sellers information to complete the entries and the seller will need your information as well for their return.

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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