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Updated almost 6 years ago, 01/13/2019
Splitting a 1098 between two properties
I have a tax question that I hope someone can point me in the right direction.
I had a loan on one rental and a loan on my primary home. In 2016, I refinanced my home in 2016 loan and cashed out enough extra to pay-off the rental loan. I now have one loan and receive one 1098.
Can I split the 1098 in two parts, one for the primary home and one for the rental? For 2018 tax year, I am taking the standard deduction so I am looking for a way to deduct that part of the loan that was used to pay-off the rental.
Thanks in advance for anyone that can help