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-   -   Contract For Deed (https://www.askmehelpdesk.com/showthread.php?t=636593)

  • Feb 16, 2012, 05:58 PM
    lpainter123
    Contract For Deed
    We are buying a house with owner finance-Contract for Deed. Payment including interest, plus one-twelfth (1/12) of annual insurance and property taxes-("Escrow") are paid monthly as stated in Contract for Deed. Are we entitled to a 1098 for our personal income taxes on the interest & taxes we have paid?
  • Feb 16, 2012, 06:07 PM
    ScottGem
    Generally, with a contract for deed, you don't own the property until the contract is finished. Until the deed is in your name you can't claim a deduction.

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