Finanse publiczne · 08/12/1994

Reporting Requirements for Recipients of Points Paid on Residential Mortgages

The document outlines final regulations requiring recipients of prepaid interest in the form of points on residential mortgages to report this information. These regulations, implemented by the Omnibus Budget Reconciliation Act of 1989, apply to taxpayers who receive $600 or more in interest, including points, on residential mortgages in a calendar year.