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13 October, 21:48

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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  1. 14 October, 01:44
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    A) 1098

    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.
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