Solved: Should I worry over a mortgage/interest statement, less than a year of paying, thats being paid by 50/50 investment company but is in my name? Should I worry with IRS?
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Should I worry over a mortgage/interest statement, less than a year of paying, thats being paid by 50/50 investment company but is in my name? Should I worry with IRS?

should i worry about a mortgage and interest statement, thats less than a full year of payment, thats being paid by our real estate company but in my personal name? Should I worry about the IRS if this form 1098 is filed under the business since that entity has been paying for everything?
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Should I worry over a mortgage/interest statement, less than a year of paying, thats being paid by 50/50 investment company but is in my name? Should I worry with IRS?

No, because you are an owner of the company that has assumed payment of the mortgage, and files its own tax return, you are not required to include the information from Form 1098 on your personal tax return. Instead, forward the form to the firm handling the company's tax return so the correct information is reported to the IRS.

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Should I worry over a mortgage/interest statement, less than a year of paying, thats being paid by 50/50 investment company but is in my name? Should I worry with IRS?

Does the business file a separate tax return?
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Should I worry over a mortgage/interest statement, less than a year of paying, thats being paid by 50/50 investment company but is in my name? Should I worry with IRS?

yes, we will be having a tax company file for the business alone
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Level 7

Should I worry over a mortgage/interest statement, less than a year of paying, thats being paid by 50/50 investment company but is in my name? Should I worry with IRS?

No, because you are an owner of the company that has assumed payment of the mortgage, and files its own tax return, you are not required to include the information from Form 1098 on your personal tax return. Instead, forward the form to the firm handling the company's tax return so the correct information is reported to the IRS.

View solution in original post

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Should I worry over a mortgage/interest statement, less than a year of paying, thats being paid by 50/50 investment company but is in my name? Should I worry with IRS?

Thank you for the help!!
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