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Tax, SDIRAs & Cost Segregation

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John Laney
  • Investor
  • Portland, OR
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39
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1098 for a Family member Loan

John Laney
  • Investor
  • Portland, OR
Posted Dec 29 2017, 14:15

Hello, 

Last year my dad gave me a 100k full recourse loan, at fair market interest rate, for a primary residence.

Looking at IRS pub 1098 https://www.irs.gov/pub/irs-pdf/i1098.pdf It looks like we need to fill out a 1098.  This allows me to deduct the interest expense.  

I've received 1098's from a bank but never created one my self. Is it that simple or am I missing something?

Thanks, 

John

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