What is this; Federal Seller Financed Mortgage Statement – Interest Income?

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I am doing tax act online and this comes up. Do I have to fill this out?? I sold my home. The person who purchased it got their own loan via FHA. Does this mean I financed their mortgage??
so where do i enter my form 1098 mortgage interest statement? this is the taxes i PAID, right?

  1. Reply
    v b
    April 29, 2011 at 9:47 pm

    “got their own loan via FHA”–so YOU didn’t finance it. Thus you aren’t getting the money and have no interest to impute.

    You apparently answered a question wrong in the interview.

  2. Reply
    April 29, 2011 at 10:00 pm

    nope – skip it – you didn’t finance it – the government did.

  3. Reply
    Count Your Blessings
    April 29, 2011 at 10:34 pm

    First part of your question has been answered correctly. No, you did not finance their loan. The fed’s insured the buyer’s loan through the FHA. That transaction doesn’t concern or affect your taxes.

    You take your mortgage interest deduction on Schedule A, line 10, which reads “home mortgage interest and points from Form 1098.”

    Good luck!

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