2007-01-30 12:08:09 · 4 answers · asked by Ang 2 in Business & Finance ➔ Taxes ➔ United States
I have a first and second mortgage. I have only rcv'd my 1098 from my second mortgage. Can i go ahead and file, just ignoring the other interest??
2007-01-30 12:09:29 · update #1
No you absolutely do not need your 1098, in fact the total you paid in interest is usually on your last monthly statement and you can call and get the amount as well. Most mortgage companies also allow you to find the amount online.
All you need is to know the amount. If it doesn't match the 1098 it is only a problem if it is too high.
2007-01-30 12:20:25 · answer #1 · answered by Nusha 5 · 0⤊ 1⤋
If you are itemizing your deductions and plan to claim the interest you paid on the mortgages then yes you must wait for the 1098. By law all tax documents must be postmarked by midnight on Jan. 31. So if you have not received your form by Feb. 5 contact the mortgage company.
2007-01-30 20:17:55 · answer #2 · answered by evergoth 2 · 1⤊ 0⤋
If you are itemizing your deductions and you should be with mortgage interest to claim, you should wait for the other interest statement to maximize your refund.
2007-01-30 20:16:31 · answer #3 · answered by Shelley 4 · 0⤊ 1⤋
Not if you're ABSOLUTELY SURE of the EXACT interest you are DEDUCTING.
If that amount is different fromt he 1098 you will GET AUDITED and if you declare MORE you WILL OWE PENALTIES AND INTEREST.
2007-01-30 20:18:51 · answer #4 · answered by Anonymous · 0⤊ 1⤋