George4Tacks
Level 15
12-07-2019
08:49 AM
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What was sold? Do you need to have buyer and seller both complete 8594?
Schedule B only requires SSN when it is seller financed interest for a PERSONAL RESIDENCE. Even then, if the buyer doesn't care about deducting the mortgage, why should we care?
If it is interest on a rental, then the buyer probably should be issuing a 1099 to the seller, so again, why should we care?
EDIT - I have added a photo of the ceiling over my desk that I often used for basis calculations.
Answers are easy. Questions are hard!