Providing my buyers an interest statement - Help Wanted.

[NA NA]

Hi, I'm looking for authoritative help in the area of providing my buyers with an appropriate/professional looking interest statement that shows what they paid in the past year from the purchase date (which was in 2011) through the end of this past year. Can anyone tell me:

What to provide
How it should look
Share a sample with me
Tell me if I need to provide them with amounts they paid in taxes and insurance?
Does this matter if their name is not on the deed? I held the deed in my name and used a Land Contract where I dont' have to record anything, I believe.

I'd appreciate any direction in this area and thank you in advance.

[Jon Holdman]

You would use an IRS form 1098. For tax deductiablity purposes, a land contract transfers ownership and the buyer, not you, get the mortgage interest deduction. If you're escrowing and paying real estate taxes, you'll provide that information, too, because they will be able to deduct that. That's line 5 on the 1098. They should have a insurance bill from their insurance company, even if you make the payments. I believe you need to get these out by Jan 31. I've already received them from my lenders.