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Regarding 1098 Documents and Distribution to Shareholders
Einsidler Management, Inc. distributes 1098 forms to shareholders between January and mid-February each year.
What You Should Know
Please note that the 1098 tax form includes your mortgage interest for the co-op, not the individual(s) mortgage. The origination dates and amounts listed will not correlate with your personal mortgage.
As a shareholder in a co-op, you pay monthly maintenance. Part of your maintenance payment goes towards paying the building’s mortgage. The 1098 form allows you to deduct part of the building’s mortgage interest on your own taxes. Please consult your tax professional for further information.
The 1098 form only applies to individuals who own one (or more) co-op units. This form does not apply to condominiums or homeowners associations.
Do You Need a Copy of Your 1098 Form?
Please contact us if you require a copy to complete your taxes.