1808347
You'll need to sign in or create an account to connect with an expert.
The first screen will ask you for the lender's name. On the second screen (Tell us more about your loan), choose the option that says ''This is a seller-financed loan and I did not receive a 1098''.
For tax years 2018 through 2025, you can only deduct the interest from the amount of your loan that was used to buy, build, or improve the home that it’s secured by.
If you’ve ever used part of this loan to pay for things other than this home, you cannot deduct the interest from that amount of the loan, even if the transaction didn’t take place this year.
You may be able to get your mortgage info by going to your lender’s website. Other documents, like your monthly mortgage bills and your Closing Disclosure (or HUD-1), will also have some of this info. Your lender should send you a 1098 by January 31. If you haven’t received one by then, contact them for the info you need.
Use the type it in yourself option and then the seller financed choice :
The first screen will ask you for the lender's name. On the second screen (Tell us more about your loan), choose the option that says ''This is a seller-financed loan and I did not receive a 1098''.
For tax years 2018 through 2025, you can only deduct the interest from the amount of your loan that was used to buy, build, or improve the home that it’s secured by.
If you’ve ever used part of this loan to pay for things other than this home, you cannot deduct the interest from that amount of the loan, even if the transaction didn’t take place this year.
You may be able to get your mortgage info by going to your lender’s website. Other documents, like your monthly mortgage bills and your Closing Disclosure (or HUD-1), will also have some of this info. Your lender should send you a 1098 by January 31. If you haven’t received one by then, contact them for the info you need.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Opus 17
Level 15
Dan S9
Level 1
dmcrory
Returning Member
gnest02
Level 1
Rudy16
Level 2