If you prepare 1098 returns for cooperatives, Account Ability can compute each payer's share of the total mortgage interest received, outstanding mortgage principal as of 1/1/2020, amortization, real estate taxes, and capital reserve fund entered on the 1098 setup page of the client master.
The 1098 user interface contains fields for
Enter the period of occupancy for the payer during the 2020 calendar year.
Enter the total number of shares allocated to the apartment.
Percentage of Maintenance Paid
Enter the payer's percentage of the total maintenance paid for 2020. Generally this will be 100%. However, if multiple payers share the apartment, a separate 1098 reflecting each payer's period of occupancy and percentage of maintenance paid must be entered.
After completing the above for each payer, select Apportion from the File menu of Form 1098 and confirm.