IRS Form 1098 2019 Mortgage Interest Statement

What Is a 1098 Form?

IRS Form 1098, Mortgage Interest Statement (also known as the IRS Mortgage Interest Form) is a form that reports the amount of interest and related expenses that an individual or a sole proprietor paid on a mortgage during a tax year. The form is filed with the Internal Revenue Service (IRS), which is the issuing department, and was last revised in 2019. The form is revised every year. You can download Form 1098 for 2019 (filing for the previous year) below.

What Is IRS Form 1098 Used for?

The statement is used for reporting mortgage interest paid by an individual or sole proprietor during a tax year to the government, with the purpose of receiving a mortgage interest deduction on the borrower's federal income tax return.

The form is filled out and filed by the lender or whichever entity receives the interest, and it is provided to the borrower, who can use the amounts on the form to deduct the interest paid from their taxable income.

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Attention:
Copy A of this form is provided for informational purposes only. Copy A appears in red,
similar to the official IRS form. The official printed version of Copy A of this IRS form is
scannable, but the online version of it, printed from this website, is not. Do not print and file
copy A downloaded from this website; a penalty may be imposed for filing with the IRS
information return forms that can’t be scanned. See part O in the current General
Instructions for Certain Information Returns, available at www.irs.gov/form1099, for more
information about penalties.
Please note that Copy B and other copies of this form, which appear in black, may be
downloaded and printed and used to satisfy the requirement to provide the information to
the recipient.
To order official IRS information returns, which include a scannable Copy A for filing with
the IRS and all other applicable copies of the form, visit www.IRS.gov/orderforms. Click on
Employer and Information
Returns, and we’ll mail you the forms you request and their
instructions, as well as any publications you may order.
Information returns may also be filed electronically using the IRS Filing Information Returns
Electronically (FIRE) system (visit www.IRS.gov/FIRE) or the IRS Affordable Care Act
Information Returns (AIR) program (visit www.IRS.gov/AIR).
See IRS Publications 1141, 1167, and 1179 for more information about printing these tax
forms.
Attention:
Copy A of this form is provided for informational purposes only. Copy A appears in red,
similar to the official IRS form. The official printed version of Copy A of this IRS form is
scannable, but the online version of it, printed from this website, is not. Do not print and file
copy A downloaded from this website; a penalty may be imposed for filing with the IRS
information return forms that can’t be scanned. See part O in the current General
Instructions for Certain Information Returns, available at www.irs.gov/form1099, for more
information about penalties.
Please note that Copy B and other copies of this form, which appear in black, may be
downloaded and printed and used to satisfy the requirement to provide the information to
the recipient.
To order official IRS information returns, which include a scannable Copy A for filing with
the IRS and all other applicable copies of the form, visit www.IRS.gov/orderforms. Click on
Employer and Information
Returns, and we’ll mail you the forms you request and their
instructions, as well as any publications you may order.
Information returns may also be filed electronically using the IRS Filing Information Returns
Electronically (FIRE) system (visit www.IRS.gov/FIRE) or the IRS Affordable Care Act
Information Returns (AIR) program (visit www.IRS.gov/AIR).
See IRS Publications 1141, 1167, and 1179 for more information about printing these tax
forms.
VOID
CORRECTED
8181
RECIPIENT’S/LENDER’S name, street address, city or town, state or
OMB No. 1545-1380
province, country, ZIP or foreign postal code, and telephone no.
Mortgage
2019
Interest
Statement
1098
Form
1 Mortgage interest received from payer(s)/borrower(s)
Copy A
$
For
2 Outstanding mortgage
RECIPIENT’S/LENDER’S TIN
PAYER’S/BORROWER’S TIN
Internal Revenue
3 Mortgage origination date
principal
Service Center
$
4 Refund of overpaid
5 Mortgage insurance
File with Form 1096.
interest
premiums
$
$
PAYER’S/BORROWER’S name
For Privacy Act
6 Points paid on purchase of principal residence
and Paperwork
$
Reduction Act
Street address (including apt. no.)
7
If address of property securing mortgage is the same
Notice, see the
2019 General
as PAYER’S/BORROWER’S address, check the box, or enter
Instructions for
the address or description in box 8.
Certain
Information
City or town, state or province, country, and ZIP or foreign postal code
8 Address or description of property securing mortgage (see
Returns.
instructions)
9 Number of properties securing the
10 Other
mortgage
11 Mortgage acquisition
date
Account number (see instructions)
1098
Form
Cat. No. 14402K
www.irs.gov/Form1098
Department of the Treasury - Internal Revenue Service
Do Not Cut or Separate Forms on This Page
Do Not Cut or Separate Forms on This Page
CORRECTED (if checked)
RECIPIENT’S/LENDER’S name, street address, city or town, state or
OMB No. 1545-1380
*Caution: The amount shown may
not be fully deductible by you.
province, country, ZIP or foreign postal code, and telephone no.
Mortgage
2019
Limits based on the loan amount
and the cost and value of the
Interest
secured property may apply. Also,
you may only deduct interest to the
Statement
extent it was incurred by you,
actually paid by you, and not
1098
reimbursed by another person.
Form
1 Mortgage interest received from payer(s)/borrower(s)*
Copy B
$
For Payer/
2 Outstanding mortgage
Borrower
RECIPIENT’S/LENDER’S TIN
PAYER’S/BORROWER’S TIN
3 Mortgage origination date
principal
The information in boxes 1
$
through 9 and 11 is important
4 Refund of overpaid
5 Mortgage insurance
tax information and is being
interest
premiums
furnished to the IRS. If you are
$
$
PAYER’S/BORROWER’S name
required to file a return, a
negligence penalty or other
6 Points paid on purchase of principal residence
sanction may be imposed on
$
you if the IRS determines that
Street address (including apt. no.)
7
If address of property securing mortgage is the same
an underpayment of tax
results because you
as PAYER’S/BORROWER’S address, the box is checked, or
overstated a deduction for
the address or description is entered in box 8.
this mortgage interest or for
City or town, state or province, country, and ZIP or foreign postal code
8 Address or description of property securing mortgage (see
these points, reported in
instructions)
boxes 1 and 6; or because
you didn’t report the refund of
interest (box 4); or because
you claimed a nondeductible
9 Number of properties securing the
10 Other
item.
mortgage
11 Mortgage acquisition
date
Account number (see instructions)
1098
Form
(Keep for your records)
www.irs.gov/Form1098
Department of the Treasury - Internal Revenue Service
Instructions for Payer/Borrower
A person (including a financial institution, a governmental unit, and a cooperative
Box 2. Shows the outstanding principal on the mortgage as of January 1, 2019.
housing corporation) who is engaged in a trade or business and, in the course of
If the mortgage originated in 2019, shows the mortgage principal as of the date
such trade or business, received from you at least $600 of mortgage interest
of origination. If the recipient/lender acquired the loan in 2019, shows the
(including certain points) on any one mortgage in the calendar year must furnish
mortgage principal as of the date of acquisition.
this statement to you.
Box 3. Shows the date of the mortgage origination.
If you received this statement as the payer of record on a mortgage on which
Box 4. Do not deduct this amount. It is a refund (or credit) for overpayment(s)
there are other borrowers, furnish each of the other borrowers with information
of interest you made in a prior year or years. If you itemized deductions in the
about the proper distribution of amounts reported on this form. Each borrower is
year(s) you paid the interest, you may have to include part or all of the box 4
entitled to deduct only the amount he or she paid and points paid by the seller
amount on the “Other income” line of your 2019 Schedule 1 (Form 1040). No
that represent his or her share of the amount allowable as a deduction. Each
adjustment to your prior year(s) tax return(s) is necessary. For more information,
borrower may have to include in income a share of any amount reported in box 4.
see Pub. 936 and Itemized Deduction Recoveries in Pub. 525.
If your mortgage payments were subsidized by a government agency, you
Box 5. If an amount is reported in this box, it may qualify to be treated as
may not be able to deduct the amount of the subsidy. See the instructions for
deductible mortgage interest. See the 2019 Schedule A (Form 1040) instructions
Form 1040, Schedule A, C, or E for how to report the mortgage interest. Also,
and Pub. 936.
for more information, see Pub. 936 and Pub. 535.
Box 6. Not all points are reportable to you. Box 6 shows points you or the seller
Payer’s/Borrower’s taxpayer identification number (TIN). For your protection,
paid this year for the purchase of your principal residence that are required to be
this form may show only the last four digits of your TIN (SSN, ITIN, ATIN, or EIN).
reported to you. Generally, these points are fully deductible in the year paid, but
However, the issuer has reported your complete TIN to the IRS.
you must subtract seller-paid points from the basis of your residence. Other
Account number. May show an account or other unique number the lender has
points not reported in box 6 may also be deductible. See Pub. 936 to figure the
assigned to distinguish your account.
amount you can deduct.
Box 1. Shows the mortgage interest received by the recipient/lender during the
Box 7. If the address of the property securing the mortgage is the same as
year. This amount includes interest on any obligation secured by real property,
the payer’s/borrower’s, either the box has been checked, or box 8 has been
including a mortgage, home equity loan, or line of credit. This amount does not
completed.
include points, government subsidy payments, or seller payments on a
Box 8. This is the address or description of the property securing the mortgage.
“buydown” mortgage. Such amounts are deductible by you only in certain
Box 9. If more than one property secures the loan, shows the number of properties
circumstances. Caution: If you prepaid interest in 2019 that accrued in full by
securing the mortgage. If only one property secures the loan, this box may be
January 15, 2020, this prepaid interest may be included in box 1. However, you
blank.
cannot deduct the prepaid amount in 2019 even though it may be included in
Box 10. The interest recipient may use this box to give you other information,
box 1. If you hold a mortgage credit certificate and can claim the mortgage
such as real estate taxes or insurance paid from escrow.
interest credit, see Form 8396. If the interest was paid on a mortgage, home
equity loan, or line of credit secured by a qualified residence, you can only
Box 11. If the recipient/lender acquired the mortgage in 2019, shows the date of
deduct the interest paid on acquisition indebtedness, and you may be subject to
acquisition.
a deduction limitation.
Future developments. For the latest information about developments related to
Form 1098 and its instructions, such as legislation enacted after they were
published, go to www.irs.gov/Form1098.
VOID
CORRECTED
RECIPIENT’S/LENDER’S name, street address, city or town, state or
OMB No. 1545-1380
province, country, ZIP or foreign postal code, and telephone no.
Mortgage
2019
Interest
Statement
1098
Form
1 Mortgage interest received from payer(s)/borrower(s)
Copy C
$
For Recipient/
2 Outstanding mortgage
RECIPIENT’S/LENDER’S TIN
PAYER’S/BORROWER’S TIN
Lender
3 Mortgage origination date
principal
$
4 Refund of overpaid
5 Mortgage insurance
interest
premiums
For Privacy Act
$
$
PAYER’S/BORROWER’S name
and Paperwork
6 Points paid on purchase of principal residence
Reduction Act
Notice, see the
$
2019 General
Street address (including apt. no.)
7
If address of property securing mortgage is the same
Instructions for
as PAYER’S/BORROWER’S address, check the box, or enter
Certain
the address or description in box 8.
Information
Returns.
City or town, state or province, country, and ZIP or foreign postal code
8 Address or description of property securing mortgage (see
instructions)
9 Number of properties securing the
10 Other
mortgage
11 Mortgage acquisition
date
Account number (see instructions)
1098
Form
www.irs.gov/Form1098
Department of the Treasury - Internal Revenue Service

Download IRS Form 1098 2019 Mortgage Interest Statement

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IRS Form 1098 Instructions

Step-by-step Form 1098 instructions can be downloaded by clicking this link. If you receive a mortgage interest of $600 or more in the course of your trade or business, you will be asked to file Form 1098, in order to report the said interest and certain mortgage insurance premiums, as well as reimbursements of an overpaid interest.

Only mortgage holders who paid at least $600 in interest for a single mortgage can qualify for a tax deduction. That is to say, if the homeowner has multiple mortgages and paid $600 in total interest, Form 1098 shall be filed only if the interest payment made on a single mortgage is $600 or above.

Taxpayers who deduct mortgage interest payments must itemize their deductions, which can be done on Schedule A. This is beneficial as long as the total value of itemized deductions is greater than that of the standard deduction.

A mortgage owner may also deduct points paid when they purchased real property. Points refer to a home loan interest paid in advance with the aim of improving the rate on the mortgage provided by the lender.

The IRS requires mortgage lenders to provide this form to borrowers if the property that secures the mortgage is considered real property and if the home for which the mortgage interest payments are made and the mortgage itself are qualified by the IRS standards. The due date for providing with this form to the borrower is January 31.

Forms 1098 on paper must be filed by February 28, 2020, or March 31, 2020, if filed electronically. Late filing penalties shall apply if the lender fails to file a correct information return by the due date without reasonable cause. The penalty is as follows:

  • $50 per information return if you correctly file within 30 days (by March 30 if the due date is February 28);
  • $110 per information return if you correctly file more than 30 days after the due date but by August 1;
  • $270 per information return if you file after August 1 or you do not file required information returns.

Taxpayers who mail paper versions of their tax returns should enclose a Form 1096 with their statement. It is possible to file information returns electronically via the IRS Filing Information Returns Electronically (FIRE) system or the IRS Affordable Care Act Information Returns (AIR) program.

IRS 1098 Related Forms

  • IRS Form 1098-C, Contributions of Motor Vehicles, Boats, and Airplanes. It details the donations of automobiles, boats, and airplanes made to charitable organizations, and it is filed and reported by the recipient organization so that a donor can claim a donation tax deduction.
  • IRS Form 1098-E, Student Loan Interest Statement. This form reports the interest amount that was paid on qualified student loans during the tax year. These amounts can be deducted by the taxpayer on their income tax return.
  • IRS Form 1098-T, Tuition Statement. This statement provides information about qualified tuition and related fees during the tax year. It is filed by the educational institution and can be used to calculate education-related tax deductions and credits. It also reports any grants and scholarships received that may reduce the above-mentioned deductions or credits.
  • IRS Form 1098-Q, Qualifying Longevity Annuity Contract. This form is filed by the person who issues a contract intended to be a Qualifying Longevity Annuity Contract (QLAC), so that the annuity holder can claim distribution taxes deductions based on the income received on top of the original investment.

Video Instructions for IRS Form 1098

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