Skip to main content
Level 1
Aug 12, 2022 8:46 PM UTC
Solved

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.

    NCpersonAnswer
    Level 15
    Aug 12, 2022 9:04 PM UTC

    @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.

    1 reply

    NCpersonAnswer
    Level 15
    Aug 12, 2022 9:04 PM UTC

    @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.