Coop Mortgage Deduction
Since readers on this site seem to know everything, maybe someone can help with this question: My coop sent a letter indicating how much of the coop mortgage interest I can deduct per share. In my case, this came out to $5200. But then I also got a 1098 from them — the amount on…
Since readers on this site seem to know everything, maybe someone can help with this question: My coop sent a letter indicating how much of the coop mortgage interest I can deduct per share. In my case, this came out to $5200. But then I also got a 1098 from them — the amount on the 1098 read $2635. Are these amounts supposed to match, or am I missing something?
Is it possible that you own with a spouse or partner? If so, you might each receive a statement for half of the total interest.
1098s have two numbers, one for taxes and one for interest, do they equal the 5200?
Did you live there the full year and pay a full year of maintenance?