Ray,

If you have all 12 monthly bank statements for 2004 you may
not need a statement at all. If your statements are like
mine, they show a breakdown for each mortgage payment I
made: the amount of the payment that is applied to
principle and the amount that is interest expense. Add
together the 12 interest payments (one from each statement
assuming you made one payment each month) and that is the
total interest paid.

Did you purchase your home this year or refinance this year
or recently? If so, there may also be mortgage points to be
added to your interest expense. If you purchased this year,
get the points off your settlement statement and add them to
the interest paid. If you refinanced this year or recently,
you can amoritize the points paid (get from settlement
statement) over the life of the loan.

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Arthur Kamlet wrote:

- quote -

Not that I know of.

- quote -

Sympathize with your last sentence, but as for the omission
of the tax in box four, I use this as a "teaching lesson",
and make sure the client calls his local tax office to
insure the tax has been paid. If NOT paid, he certainly
needs to know that in order to forestall the local sheriff
showing up with papers.

ChEAr$,
Harlan Lunsford, EA n LA
Sun 13 Feb 2005

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Paul A Thomas wrote:
- quote -

Is there a new rule that mortgage companies acting as escrow
agents no longer have to report real estate taxes paid on a
1098?

I've suddenly started to see 1098s which in the past have a
real estate tax paid amount in box 4 now just blank out box
4, forcing clients to call their escrow agents and demand to
be told how much real estate tax was paid, because their
"tax guy" needs it. All my fault.

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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Paul A Thomas wrote:
- quote -

Like "Greenleaf?" (lol

ChEAr$,
Harlan Lunsford, EA n LA
Thu 10 Feb 2005

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Paul A Thomas wrote:
- quote -

If it is a Bank, there is also the Local Federal Reserve
Bank. Ask for the compliance officer.

--
Frederick E. Jorden http://Tax-Accounting-Payroll.com
7825 Midlothian Tpk - 207 Richmond, VA 23235-5247
EMAIL knowtax[at]bigfoot.com
(804) 320-6210 FAX (804) 320-6211

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Ray <rayj.balt[at]verizonDELETHIS.net> wrote:

- quote -

If it was more than $600 they had to mail it by January 31.

Write a high level officer of the bank to complain if they
continue to stonewall you.

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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Ray wrote:

- quote -

Yes, assuming it is indeed mortgage interest. The form is
called a 1098 and should be available to you by Jan 31st.

- quote -

Do you have an amortization statement maybe? This should
give you the interest, or you may find a program on the
web.

ChEAr$,
Harlan Lunsford, EA n LA


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"Ray" <rayj.balt[at]verizonDELETHIS.net> wrote:

- quote -

Yes

- quote -

Report the interest on line 11 of Schedule A.

--
Phil Marti
Clarksburg, MD

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"Ray" <rayj.balt[at]verizonDELETHIS.net> wrote
- quote -

Yes as to the end of January. I don't know why, but I have
several clients waiting on their mortgage statements also.

There's not much you can do, at least with the IRS. File a
complaint with your state's mortgage licensing office.
That'll probably do more to light a fire under them, at
least for future years.

--
Paul A. Thomas, CPA
Athens, Georgia
taxman at negia.net

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I have called and even visited a local bank to get my 2004
Mortgage Interest Statement, but they just won't send it.

Am I correct that banks are required by law to supply this
statement by the end of January?

If they refuse to send the statement, what can I do?

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