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What is this; Federal Seller Financed Mortgage Statement – Interest Income?

I am doing tax act online and this comes up. Do I have to fill this out?? I sold my home. The person who bought it got their own loan via FHA. Does this mean I financed their mortgage??
so where do i enter my form 1098 mortgage interest statement? this is the taxes i PAID, right?


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This entry was posted on Friday, June 26th, 2009 at 2:47 am and is filed under FHA Financing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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One Response to “What is this; Federal Seller Financed Mortgage Statement – Interest Income?”

  1. Count Your Blessings says:
    June 26, 2009 at 2:47 am

    First part of your question has been answered correctly. No, you did not finance their loan. The fed's insured the buyer's loan through the FHA. That transaction doesn't concern or affect your taxes.

    You take your mortgage interest deduction on Schedule A, line 10, which reads "home mortgage interest and points from Form 1098."

    Excellent luck!

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