Contents - Index
Per Share Allocations for Form 1098
This feature is for co-operative units that need to report distributive amounts of Mortgage Interest, Points and Real Estate taxes paid. Each 1098 record can have a number of shares assigned to it. There is a worksheet available in order to prorate the total shares if a unit was purchased or sold during the year. The allocation is done while browsing Form 1098 records for a payor. There will be an ALLOCATE button on the bottom left of the window. Clicking on that will bring up another window where you can enter the Co-operative's Total Mortgage Interest, Points and Real Estate Taxes. You can then click on a button to perform the allocation. The program will automatically go through each 1098 record for that payor and multiply the number of shares by the totals.