My cooperative housing 1098 shows the full mortgage amount for the whole co-op in the outstanding mortgage principal box #2 instead of my portion?

[jkosinski]

My cooperative housing 1098 shows the full mortgage amount for the whole co-op in the outstanding mortgage principal box #2. The rest of the form shows my portion of the taxes/mortgage based on my # of shares in the co-op. What should I enter (calculate) for my portion of the mortgage principal?

[IreneS]

Use the figures given for your portion of the taxes and mortgage interest.  You do not have to enter anything regarding the principal paid or the principal balance--just the interest and taxes.

[sherwin9697]

Although you say that the mortgage interest paid and the R/E taxes are all that should be entered, TT is asking for the beginning balance. How would I know that? It's the co-it's mortgage, not mine.

[ToddL99]

Have you tried entering a value ("1") in the beginning and ending mortgage principal balance?

[sherwin9697]

Thanks for answering. Do you mean by a value of "1" is $1? If so, putting $1 is enough to proceed with TT? Thanks again!

[ToddL99]

Sorry, yes ---  $1.

I think $1 is fine!

[ToddL99]

Actually, the correct number would be whatever your personal mortgage balance was.

[sherwin9697]

Thank you again the thing is that I do not have a personal mortgage it's the mortgage that the coop took out I do not have one for my apartment my 1098 shows real estate taxes and mortgage interest paid. I did not have an outstanding mortgage principal or mortgage balance but the building does I'm sure. So once again I don't know what to put in that box number two.

[ToddL99]

If you don't have a mortgage (i.e. aren't paying mortgage interest), you do not need to report this Form 1098 on your return.  

If you are paying a portion of the coop's property taxes, enter them separately in the Property Taxes interview  (no Form 1098 interview required).

@sherwin9697