Arizona
Hello, we filed our 2005 taxes last year (2006) and included the amount of mortgage interest we "anticipated" that we paid in 2005 from our second mortgage. (our second was held by an "individual" and not necessarily an actual mortgage company and we have since refinanced and paid the 2nd mortgage off)
A while later after we filed, we did finally receive a 1098 form from the second mortgage holder *the individual* , but it was incorrect. Since we had already filed the taxes we left it alone.
Fast forward it is now 2007, and a couple of weeks ago, we received a letter from the IRS stating that the mortgage interest we reported did not match the information on their end. and that we now owe approx. $2200.00!
Apparently the second mortgage holder has NEVER supplied the IRS with a 1098 at all. Our problem is... the telephone number we had for this individual that held our previous second mortgage is no longer good. The amount of the 1098 that she send to us is wrong to the tune of about $6000.00. This second was an interest only loan in which in 2005 we paid approximately $8200.00 in interest only payments, but the 1098 that was sent to us only shows $2451.00.
We are not sure what to do at this point. Any advice would be greatly appreciated...
Hello, we filed our 2005 taxes last year (2006) and included the amount of mortgage interest we "anticipated" that we paid in 2005 from our second mortgage. (our second was held by an "individual" and not necessarily an actual mortgage company and we have since refinanced and paid the 2nd mortgage off)
A while later after we filed, we did finally receive a 1098 form from the second mortgage holder *the individual* , but it was incorrect. Since we had already filed the taxes we left it alone.
Fast forward it is now 2007, and a couple of weeks ago, we received a letter from the IRS stating that the mortgage interest we reported did not match the information on their end. and that we now owe approx. $2200.00!
Apparently the second mortgage holder has NEVER supplied the IRS with a 1098 at all. Our problem is... the telephone number we had for this individual that held our previous second mortgage is no longer good. The amount of the 1098 that she send to us is wrong to the tune of about $6000.00. This second was an interest only loan in which in 2005 we paid approximately $8200.00 in interest only payments, but the 1098 that was sent to us only shows $2451.00.
We are not sure what to do at this point. Any advice would be greatly appreciated...