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Payment made to a veteran's mortgage
August 30, 2022
Q. If there is a payment made to a lender for a person's mortgage, is that considered "rent" reportable in 1099-MISC, Box 1 or no? Also, the lender is a C-Corp.
A.
(Answered by IOFM's third-party tax expert.)
This question is confusing. Does you mean that there's a contract under which they're paying for the use of some real property and in lieu of paying rent for it, they are paying the landlord's monthly mortgage payment which the landlord owes to the landlord's lender? That would be an…
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