IRS and the Interest Deduction
Anybody else having issues with the IRS on the mortgage interest deduction for the motorhome as a second home? My motorhome is financed through Wells Fargo Bank. For the entire life of the loan they...
Forum Discussion
2bzy2c wrote:I agree with this post! And for Wells Fargo finance the loan for life? I can't tell you the number of loans on RV's that I've had since 1976 that were sold to another lending company by the original lender.
First off, the document he needs is the 1098. The 1099-int is for interest income received by him. In this case the 1098 reports interest paid by him.
The lender is required to furnish a 1098 to the tax payer by law and report the interest received by the lender in this case.
All he has to do is call the lender and request a copy of the 1098. Easy.
