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?
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.
yes, we will be having a tax company file for the business alone
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.