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Updated almost 6 years ago,
1098 Interest Tax Form Question
I was hoping I could get some direction from an accountant or someone with tax preparation knowledge. I am working on completing my 1098 interest forms. I have a situation where I have two borrowers (an individual and a LLC) on a single note. I need to prepare the 1098 interest form but don't know whether I prepare two separate 1098's and divide the interest or put both borrowers on one 1098 form. Please advise.