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verlonfrost
New Member

Can I deduct capitalized interest for tax year 2017 if not included on form 1098, but listed on statement from mortgage company?

 
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Anita01
New Member

Can I deduct capitalized interest for tax year 2017 if not included on form 1098, but listed on statement from mortgage company?

No, if the interest was capitalized that means you didn't actually pay it.  It became part of the principal you owe.  In future years you will pay interest on that additional capital and will enter the interest reported to you when you do pay it.

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Anita01
New Member

Can I deduct capitalized interest for tax year 2017 if not included on form 1098, but listed on statement from mortgage company?

No, if the interest was capitalized that means you didn't actually pay it.  It became part of the principal you owe.  In future years you will pay interest on that additional capital and will enter the interest reported to you when you do pay it.

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