How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 116715
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
Type Your Real Estate Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

Is a requirement Mortgage Loan Servicer that services

Customer Question

is a requirement for a Mortgage Loan Servicer that services commercial properties in Puerto Rico to issue a 1098 at the end of the year
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 2 years ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.If there is mortgage interest over $600, the form 1098 is supposed to be issued and filed with the IRS. The 1098 is for mortgage interest and it is for all mortgage loans, including other loans such as a commercial loan. Whether or not the commercial borrower can or cannot deduct the interest does not matter. The lender is supposed to file and provide a 1098 if they collected more than the $600 interest on real property.