[C320-list] Boat owners income tax question

[jonvez at comcast.net]

I use a small lender as well and simply call them in January and ask them for the interest paid and to send me the information in writing. Fortunately they are very responsive.......

Regards,

Jon Vez

-------------- Original message -------------- 
From: "T. Scott Thompson" <sthompson at toad.net> 

> I purchased Surprise from the dealer in Annapolis a few years back, who 
> arranged attractive financing through Key Bank. They sent a book of 
> payment coupons then, and once a year they send a flier offering me a 
> chance to skip a payment, and that's all. Never an annual statement, 
> never a 1098. I've called their customer service about this several 
> times (no small feat in itself) and they claim this is their standard 
> policy. The only thing that keeps me from refinancing in order to get 
> better customer service is that the rate is good. I've had to rely on 
> their telephone information service to get verification of the amount of 
> interest I've paid. 
> 
> Rod Boer wrote: 
> > Hi All, 
> > 
> > I normally receive a Form 1098, Mortgage Interest Statement, from my bank for 
> my boat loan to be used for a deduction on my Federal Income Tax. This year my 
> bank, The Citizens National Bank, who several area Catalina Dealers use for boat 
> loans, decided they would no longer provide this form. One of the persons I 
> talked with at the bank indicated that all banks were doing this and I wondered 
> if other list members experienced the same thing this year. Thanks. 
> > 
> > Rod Boer 
> > Odyssey, #688 
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