Mortgage Interest

[momtoroxy]

Sorry if I wasnosey! I just wondered if I should be expecting a 1098. I am glad that I shoudl be getting mine soon, as I am ready to file! We are exempt up to $2K with our return, and everything we get back is going right to savings for our move...whenever that might be. Chase threatened to file a motion for relief from stay, but they never did. We were discharged a few weeks back. Hopefully we'll have a while here to sort things out!

[Tweeby]

No problem with being nosy I posted to let you know that it may be coming soon.

[JJ888]

I got 1098 today in the mail from our 1st mortgage(Nationstar). I guess they're still required to send one eventhough your not current in payments.

[CCsAreEvil]

I received our 1098 from Chase today. Hope all of yours come quickly.

Still nothing from Chase (2nd/HELOC) as of yesterday. I'm still giving the snail mail another couple of days. Originally, the 2nd was done through Wamu, but that all converted over in October 2009 so that really shouldn't be an issue.

[momtoroxy]

CCsAreEvil, did you get it yet? I finally got mine today! Yeah, was just able to file! I just printed out the copy for the trustee and it's going in the mail tomorrow! Too bad he might take $330 of it! We are exempt up to 2K, but we are getting back 2330. We'll see! My attorney told me not to do "rapid refund" so I requested a check from Turbo Tax instead, to be safe. Ugh! Good thing it's going right into savings for when we have to move!

[CCsAreEvil]

Nope, still nothing. I'm not too worried about it since the trustee is going to get a good chunk of the return anyways. My atty claims there's nothing that protects the refund in AZ. I will probably just report the interest on the 1st (where I received a 1098). There's a slight chance I missed it in my stack of mail over the last couple of weeks. However, I'll check again, but it really is no big deal in the grand scheme of things. The IRS doesn't care if you do not report deductions. They care for items which would have them make more $$$ off of you.

[CCsAreEvil]

Update: Finally received the 1098 from Chase yesterday. Looks like they waited until the last minute to mail mine out.

I'm still debating with just taking the standard deduction vs reporting my two 1098s. Even though I filed BK last year, would it be appropriate to report $16k in mortgage interest even though our gross earnings was only around $30k? My parents helped out with half of our payments last year, and they are not trying to claim the deduction for them even though they made those payments. Taking the standard deduction may just help not raise eyebrows with the IRS wondering how we could make our payments with so little income last year.