Instructions for IRS Form 1098 Mortgage Interest Statement

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Instructions for IRS Form 1098 Mortgage Interest Statement

This document contains official instructions for IRS Form 1098 , Mortgage Interest Statement - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 1098 is available for download through this link.

FAQ

Q: What is Form 1098?
A: Form 1098 is a tax form used to report mortgage interest paid by individuals.

Q: Who needs to file Form 1098?
A: Lenders or mortgage servicers are generally required to file Form 1098.

Q: What information is reported on Form 1098?
A: Form 1098 reports the amount of mortgage interest paid by the borrower to the lender.

Q: Do I need Form 1098 to file my taxes?
A: While Form 1098 is helpful, it is not usually required to file your taxes. It is recommended to keep it for your records.

Q: When is Form 1098 due?
A: Form 1098 is generally due to be furnished to the borrower by January 31st.

Q: What should I do if I don't receive Form 1098?
A: If you do not receive Form 1098, you should contact your mortgage lender or servicer to request a copy.

Q: Can I claim a tax deduction for mortgage interest?
A: Yes, you can usually claim a tax deduction for mortgage interest paid, subject to certain limitations. Consult a tax professional for specific advice.

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Instruction Details:

  • This 6-page document is available for download in PDF;
  • Not applicable for the current tax year. Choose a more recent version to file this year's taxes;
  • Complete, printable, and free.

Download your copy of the instructions by clicking the link below or browse hundreds of other forms in our library of IRS-released tax documents.

Download Instructions for IRS Form 1098 Mortgage Interest Statement

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