I have a complicated explanation of my interest allocation on the home mortgage interest worksheet (I have four of them). Will the IRS be able to read my explanation?
One 1098 is split between schedule A (home) and schedule E (investment property). Another is my 2nd home which is partly rental and partly home. I have tried to explain this on the worksheet.
Yes, the IRS sees the worksheets when you e-file. And if they have a question for you regarding your returns, you will be contacted to mail in additional documents.
The IRS will not see that information. You however have nothing to worry about, as if the IRS ever asked you for a clarification, you would have the worksheet saved in your records to provide at that time.
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