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mrandmrsroark
New Member

How do i report that I bought a house but it is owner financed with 5.5% interest rate and an escrow company is the middle party?

 
1 Reply
Critter
Level 15

How do i report that I bought a house but it is owner financed with 5.5% interest rate and an escrow company is the middle party?

Home purchases are not reported on a tax return ... the IRS doesn't care.

The property tax & mortgage interest is reported on the Sch A  if you itemize deductions ... and you would enter the person's name that is holding the mortgage and receiving the interest and NOT the third party facilitator's info... talk to the escrow company ... they should be sending you a 1098 in January since they are being paid to handle this for the seller.

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