I have two 1098 forms: One from the lending institution and another from the Corporation. For the lending institution 1098 form, I deduct the mortgage interest and there are no real estate taxes. It's a secured loan.
For the Corporation 1098, I have mortgage interest and real estate taxes. Box 7 is not checked, however, and Box 8 is blank. Despite that, I'm still thinking it's likely a secured loan. What makes me say that?
Well, the letter I received from the Corporation's accounting firm states: "Tenant-shareholders in a cooperative housing corporation are permitted to claim a deduction on their 2021 income tax returns for their proportionate share of real estate taxes and interest paid or incurred by the Corporation."
If it's a secured loan, then the mortgage interest is tax-deductible, is that correct? If so, then, conversely, an unsecured loan's mortgage interest is not tax-deductible.
With all that being said, would you say my share of the corporation's mortgage is a secured or unsecured loan?