"Michelle Kapp" <smfwdf[at]comcast.net> wrote:

- quote -

Usually included on a mortgage interest statement. But
sometimes you need to watch when closing is handled by
mortgage broker and is immediately "re-sold". Homebuyer
could easily receive two, or even three, mortgage interest
forms: One from the mortgage broker for the few days on the
closing statement, another from the first mortgage company
identified on the closing statement, and maybe even a third
from the ultimate mortgage holder (which is perhaps the only
company that the homeowner remembers writing checks to).
Sometimes the mortgage moves through several hands and each
company is supposed to supply a mortgage interest statement
for their period only.

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Michelle Kapp wrote:

- quote -

Normally it is included.

But doesn't hurt to check the amortization chart with
reference to number of payments made during the partical
year, adding that interest plus the few days interest to
reconcile with the 1098

Cheer$,
Harlan Lunsford, EA n LA

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"Michelle Kapp" <smfwdf[at]comcast.net> writes:

- quote -

It should be included, but check to make sure it was.

Phil Marti
Topeka, KS

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"Michelle Kapp" <smfwdf[at]comcast.net> writes:

- quote -

It should appear on the 1098, but it wouldn't hurt to check if
you are so inclined. It's pretty easy to calculate how much
of each of your monthly parents was interest and add that
amount together for the whole year, plus the interest you paid
at closing, to confirm that it is close to the amount on the
1098.

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Upon purchasing a residence, the settlement sheet has a few
days of interest paid. Will this interest be included on
the mortgage 1098 for the year or do we have to add it to
the interest expense for the year?

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