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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.