1098

Sold our home in 2020. Paid off second mortgage (city down payment program, deferred payment, interest based on equity not a particular rate). Received 1098 with equity share amount listed in box 1 (over 40k). Can we deduct the full amount as mortgage interest paid?

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1098

is this a 1099-MISC form and they are forgiving the debt?

Forgiving the debt is income. You would need to demonstrate that you paid interest to deduct it.

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