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taxicus18
New Member

Hi I have a mortgage together with someone else. We received a 1099-INT for the escrow account. Other person declared the full amount on their taxes. What should I do?

 
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1 Reply
ColeenD3
Expert Alumni

Hi I have a mortgage together with someone else. We received a 1099-INT for the escrow account. Other person declared the full amount on their taxes. What should I do?

The first thing to know is that whoever claims the interest must be both liable for the debt and pay the debt.

 

If both of you meet that qualification, it is up to you both to decide how you want to divide it. If you actually paid the interest, claim it and the IRS will sort it out between you.

 

You will need proof that you did pay.

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