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Posted by D. Stussy on February 20, 2008, 11:24 pm
Please log in for more thread options > Jonathan Stafford wrote:
> > My wife and I bought a house a few years ago before we were deployed.
> > Now we're renting it. Part of our mortgage payments covers property
> > taxes, and the mortgage company pays us interest on the money held in
> > escrow. Where should that interest payment be reported? They sent us
> > a 1099, but I don't know if it should go on Schedule B or if its
> > hidden in some line of Schedule E (12 maybe)?
> >
> > Thanks,
> > jonathan
> >
> schedule b
I agree, but note that it is still PASSIVE income that may be used to offset
passive losses.
If the interest income were not connected to the rental property, it
wouldn't be passive (in your case).
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