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What form notifies the borrower of the total amount of interest and property taxes paid in the previous year? A. 1098B. 1099C. 1199D. 1198
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What form notifies the borrower of the total amount of interest and property taxes paid in the previous year?

A. 1098B. 1099C. 1199D. 1198

User HexaCrop
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4 votes

Answer:

A) 1098

Step-by-step explanation:

Form 1098 - Mortgage Interest Statement is used to report paid mortgage interest of $600 or more during the tax year. Taxpayers can deduct the interests included in Form 1098 from their taxable income. Only sole proprietors and individual taxpayers must file Form 1098.

User Dotrinh DM
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