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Level 2
posted May 8, 2021 8:43:02 AM

HERO loan financing

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.

 

YR

0 4 618
4 Replies
Level 15
May 8, 2021 11:07:32 AM

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

Level 2
May 8, 2021 11:26:22 AM

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

Level 15
May 8, 2021 12:53:14 PM

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

Level 2
May 9, 2021 7:24:58 AM

Thank you very much!