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    #1

    contract for deed

    Client has a daughter with bad credit, so she can not get a mortgage with reasonable rate. Mom decided to help, wrote a contract for deed with interest and principal payment schedule. Mom took out a loan with her SSN to purchase a house. Daughter is paying the loan to mom, mom in turn pay to the bank. 1098 shows mom's SSN. Can daughter deduct the mortgage interest on her return. How does the matching work without daughter SSN# on the 1098 statement.
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    #2
    Mom has to issue her daughter a 1098-Int with the daughter's SS#. Is the daughter on the deed? Research beneficial ownership also?
    Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR

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