Are Second Mortgages Tax Deductible in 2019?
If you pay mortgages on two properties, you get two 1098s. If you co-own one property with, say, your parents, you only get one 1098 between you. Whoever the bank has down as what the IRS calls the “payer of record” receives the form.
Where do I enter the amount on my 1098?
Enter the details from your FIRST Form 1098 – the one from your old mortgage company or before the refinancing occurred. Be certain to enter all the information, including the amount in Box 2 of your 1098. According to the updated 2019 instructions for Form 1098, Box 2 should show an amount.
