You should scale back the idea of your principal residence by the amount you exclude. The curiosity you paid at settlement ought to be included on the statement. If it isn’t, add the interest from the settlement sheet that qualifies as home mortgage curiosity to the entire proven on Form 1098 or comparable statement. Put the total on Schedule A , line 8a, and connect a press release to your return explaining the distinction. If you paid $600 or more of mortgage interest on anyone mortgage to a mortgage holder in the course of that holder’s trade or enterprise, you must receive a Form 1098 or comparable assertion from the mortgage holder. The statement will present the whole interest paid on your mortgage through the year.

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