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CSK49
May 5, 2021
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Financing Home through Owner

  • May 5, 2021
  • 1 reply
  • 0 views

I bought a home last year from the owner to whom I make payments for the purchase.  How do I claim the interest I paid the owner for holding the mortgage on my home.

    Best answer by DMarkM1

    You will enter in the same place as though financing through a bank and receiving a form 1098 in the "Deductions & Credits" tab.

    1. Scroll down to "Your Home"
    2. "Show More"
    3. "Start/revisit" the Mortgage topic
    4. "Yes" and "type it yourself"
    5. Enter the seller's name
    6. Click the option "Seller financing and didn't receive a form 1098"

     

    Note:  You will need the sellers information to complete the entries and the seller will need your information as well for their return.

     

     

     

    1 reply

    DMarkM1
    DMarkM1Answer
    May 6, 2021

    You will enter in the same place as though financing through a bank and receiving a form 1098 in the "Deductions & Credits" tab.

    1. Scroll down to "Your Home"
    2. "Show More"
    3. "Start/revisit" the Mortgage topic
    4. "Yes" and "type it yourself"
    5. Enter the seller's name
    6. Click the option "Seller financing and didn't receive a form 1098"

     

    Note:  You will need the sellers information to complete the entries and the seller will need your information as well for their return.

     

     

     

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