topic HERO loan financing in Deductions & credits

HERO loan financing

bling105 — Sat, 08 May 2021 15:43:02 GMT

Hi there,

We got a HERO loan in March 2020, I was told by HERO representative that the interest is tax deductible, now there is no 1098 issued and I was told just show the table where it shows the interest charged for the year. My CPA is asking for TAX ID and he said he can't deduct it if there's no TAX ID or 1098. Please advise. Thank you.

Re: HERO loan financing

Critter-3 — Sat, 08 May 2021 18:07:32 GMT

The CPA is wrong ... ALL professional programs allows mortgage interest entries WITHOUT having to fill in a form 1098.

Re: HERO loan financing

bling105 — Sat, 08 May 2021 18:26:22 GMT

How about TAX ID? He said he needs that as well? Thanks so much!

Re: HERO loan financing

Critter-3 — Sat, 08 May 2021 19:53:14 GMT

NO he does not need an EIN or Tax ID (which is the same thing).

Re: HERO loan financing

bling105 — Sun, 09 May 2021 14:24:58 GMT

Thank you very much!