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Updated over 2 years ago,
1098 Mortgage Interest Statement for Hard Money Loans?
Hi all,
I assume this a question for you CPAs out there:
If I'm utilizing hard money loans to purchase properties, should I be receiving a Form 1098 Mortgage Interest Statement from that hard money lender? I'm not sure if hard money loans constitute "mortgages," but there is a lien on the property and I am paying interest, so theoretically shouldn't I be able to write off that interest using Form 1098?
Thanks!
Jordan