Posted by dealmaker on January 30, 2007 at 20:41:31:
Since you’re only LEASING the property you’re not paying ANY interest, are you?
If they wanted to they could, but then that would reduce their interest deduction, wouldn’t it?
dealmaker
interest credit for L/O - Posted by Dawn
Posted by Dawn on January 30, 2007 at 09:41:13:
Can the owner of a property I am doing a L/O legally give me a 1099, so I can claim part of the mortgage interest on my taxes?
Re: interest credit for L/O - Posted by River City
Posted by River City on January 31, 2007 at 09:09:53:
A “1099” is a tax document showing income earned. A “1098” is a tax document showing interest paid.
If you are in a lease option, you would not generally pay interest until you have exercised the option to purchase.