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What's more important is who the real estate is deeded to. If you are neither on the mortgage nor the deed, then the IRS would have a tough time taking it. An exception to this is if you live in a community property state, in which case you would automatically own half of the house regardless. Also, I am assuming that your wife is not liable for the taxes.
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∙ 16y ago
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How do you report Home Mortgage paid to a private lender to the IRS?
Report the mortgage interest on Schedule A, just like you would any other mortgage. If they do not issue you a mortgage interest statement and report it to the IRS, you will need to provide additional information.
What is the IRS form 1098 used for?
The IRS 1098 form is used to report mortgage interest and other expenses related to one's mortgage to the IRS. If more than a certain amount is paid in a taxable year, the taxpayer may be eligible for deductions to her taxable income.
Can you get a refund from IRS on mortgage taxes and interest?
No, but you can write them off as itemized deductions on your Schedule A.
What are you supposed to do with the 1099A from the mortgage company?
Your 1099-A should be reviewed by a professional when you have your taxes done. See the related information provided by the IRS regarding mortgage forgiveness.
Can you get a mortgage with IRS liens?
No. The liens must be paid off before a lender will grant a mortgage. Sometimes the lender will arrange payment and roll that amount into the amount borrowed.
Can the IRS take your pay check?
can the IRS take a deduction on your check without agreement
If you quitclaim your house to your son who is paying the mortgage payment even though you are still on the mortgage loan can he claim the interest with the IRS on his tax return?
For information, here is the link to the IRS's Publication 936 regarded Mortgage Interest Deduction rules for 2007. They'll probably be similar in 2008.http://www.irs.gov/pub/irs-pdf/p936.pdf"You must be legally liable for the loan. You cannotdeduct payments you makefor someone else if you are not legally liable to make them."best wishes
How can you get a copy of my 2009 mortgage interest statement?
Call your mortgage company and ask them for the 1098 Form, which should have been sent to your address back in January/February. The 1098 Form will have this information for you to claim the mortgage interest tax deduction with the IRS.
How can you get an IRS tax lien off a property that you hold a mortgage on if your mortgage pre dates a tax lien for the person who financed?
The tax lien must be paid to remove it from the property. If you foreclose on the mortgage the tax lien would be a junior lien, however, the IRS has a right of redemption. If you plan to foreclose you should consult with an attorney who specializes in foreclosures.The tax lien must be paid to remove it from the property. If you foreclose on the mortgage the tax lien would be a junior lien, however, the IRS has a right of redemption. If you plan to foreclose you should consult with an attorney who specializes in foreclosures.The tax lien must be paid to remove it from the property. If you foreclose on the mortgage the tax lien would be a junior lien, however, the IRS has a right of redemption. If you plan to foreclose you should consult with an attorney who specializes in foreclosures.The tax lien must be paid to remove it from the property. If you foreclose on the mortgage the tax lien would be a junior lien, however, the IRS has a right of redemption. If you plan to foreclose you should consult with an attorney who specializes in foreclosures.
What is IRS name server?
The name of the IRS server is IRS.gov. Questions about filing taxes can be addressed at IRS.gov/Filing.
Can the IRS take your 401k or IRA check for back child support in Georgia?
No, the IRS does not have the legal power to take such action.
Can the IRS take a personal injury settlement for back taxes owed?
Yes. The IRS can take any asset you have to satisfy a tax lien.
