Any tax people here?

Thrak · 02-01-2010, 07:36 PM

Thanks!

I paid it to the mortgage company @ the closing... it is listed on a 1098-Mortgage that I received from them.

That in the pdf is what I dont understand. I refinanced, so is it MIP that I paid "in connection with home acquisition debt that was secured by" my house. To me that seems like it would be a new house/purchase not a refi.

Also, once they sold the mortgage to BOA, my monthly payments include a MIP payment, and that is also listed on a 1098-Mort from them. Am I able to add them together?

The difference in my return is literally double.... I may have to just call the IRS or something, cuz its confusing. I read online that some people are taking what they paid at closing, dividing by the term of the loan (30yrs in my case) and taking that amount on their 09 return, then the same every year after... but that doesnt seem right to me.

02-01-2010, 07:36 PM	#5
Thrak .. the man from Nantucket Join Date: Jan 2009 Location: Canton, GA Posts: 558 Trading: (2)	Re: Any tax people here? Thanks! I paid it to the mortgage company @ the closing... it is listed on a 1098-Mortgage that I received from them. That in the pdf is what I dont understand. I refinanced, so is it MIP that I paid "in connection with home acquisition debt that was secured by" my house. To me that seems like it would be a new house/purchase not a refi. Also, once they sold the mortgage to BOA, my monthly payments include a MIP payment, and that is also listed on a 1098-Mort from them. Am I able to add them together? The difference in my return is literally double.... I may have to just call the IRS or something, cuz its confusing. I read online that some people are taking what they paid at closing, dividing by the term of the loan (30yrs in my case) and taking that amount on their 09 return, then the same every year after... but that doesnt seem right to me.