abctax55
Level 15
05-08-2020
03:29 PM
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Plumas Bank (a CA regional bank) does EXACTLY that on a commercial loan, secured by real estate. THEY say they don't have to issue a Form 1098 because it is 'deemed to be a line of credit'capel. Sigh.
@suneelamolagaval - I list it on the 'other' interest line & footnote the details to avoid IRS challenges.
"*******Tax software is no substitute for a professional tax preparer*******
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