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Itemized Deductions Schedule-A


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Old 02-13-2015, 09:30 PM
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Mortgage Interest - which period??

I pay my mortgage monthly with automatic bill pay from Bank "A" (Checking) to Bank "B" (Mortgagor). A payment was drafted from Bank "A" on 12/23/14 and the funds were deducted from my checking balance that day. Before year-end Bank "A" mailed a check to Bank "B" that they applied to my mortgage on 1/2/15. When I received Form 1098 from Bank "B" the interest for that payment was not included because it posted in 2015. Can I deduct that interest payment on Sch. A as 'Home Mortgage Interest Not Reported to you on Form 1098' or do I have to defer the deduction to 2015?



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Old 02-14-2015, 03:10 AM
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Originally Posted by durkin View Post
I pay my mortgage monthly with automatic bill pay from Bank "A" (Checking) to Bank "B" (Mortgagor). A payment was drafted from Bank "A" on 12/23/14 and the funds were deducted from my checking balance that day. Before year-end Bank "A" mailed a check to Bank "B" that they applied to my mortgage on 1/2/15. When I received Form 1098 from Bank "B" the interest for that payment was not included because it posted in 2015. Can I deduct that interest payment on Sch. A as 'Home Mortgage Interest Not Reported to you on Form 1098' or do I have to defer the deduction to 2015?
in 2014 as A payment was drafted from Bank "A" on 12/23/14 and the funds were deducted from your checking balance that day; you report it on line 11 of sch A of 1040.you neeed to contact that recipient to determine if you will be receiving a 1098 for this interest.



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