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
RE_Todd wrote:
Don't know if it was answered, but Wells Fargo has never sent me any tax documentation (1099 or ??) unless I called and asked for it.
Most banks will not send out a 1098. But if you look on your monthly statement you'll see an entry for "Interest Paid YTD" - your December statement will give you the total interest paid for the year. If the IRS ever questions the deduction all you need is a copy of that December statement showing the loan, and the YTD interest.
