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
snowfitter wrote:
The IRS sent me the same letter saying I owed them $1150.00 for 2011 saying they did not receive the tax form from the bank. My bank is Bank One. I call the bank and they faxed me my statement from 2011 showing the amount of interest I payed for the year. I faxed this statement to the IRS and 2 weeks later they sent a letter saying they received it and would let me know in 30 days. 2 weeks ago they sent me a letter saying I no longer owed them any money and everything was fine. There were 2 other where I work that also got the letters so I think the IRS sent thousands of letters to people fishing for more money.
Thats the easy path. Depending on the bank, they can tell you that they only report the info at the end of the year and they wont give you anything else.
I'm well versed in this one as it was a sticking point twice with the IRS over a boat of mine. The first time it was resolved by audit, the second time I went directly to the local office and they cleared it up in a matter of minutes.
