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Sony10466
Level 1

Mortgage Interest

I recieved two 1098 forms. One from my co-op and the other from my mortgage company. I also recieved a letter from the coops accountant. The letter has the per share info.

 

Box 1 on both forms has a different amount for mortgage interest and the letter has  $2.85 per share for mortgage interest and $6.57 for real estate taxes.

 

Which of the three numbers do I use or how do I figure it out. Please explain. Thank you.

1 Best answer

Accepted Solutions
NCperson
Level 15

Mortgage Interest

@Sony10466 - if you own a co-op there are two layers of mortgage.

 

1) the co-op normally has a mortgage by which the corporation originally financed the purchased of the building.

2) then you have a mortage by which you purchased your unit

 

hench you add the two mortgage amounts together..  the real estate taxes are separately added together.

View solution in original post

1 Reply
NCperson
Level 15

Mortgage Interest

@Sony10466 - if you own a co-op there are two layers of mortgage.

 

1) the co-op normally has a mortgage by which the corporation originally financed the purchased of the building.

2) then you have a mortage by which you purchased your unit

 

hench you add the two mortgage amounts together..  the real estate taxes are separately added together.

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