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This version of the form is not currently in use and is provided for reference only. Download this version of
Instructions for IRS Form 1098
for the current year.
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 IRS Form 1098?
A: IRS Form 1098 is a form used to report mortgage interest paid by the taxpayer.
Q: Who needs to file IRS Form 1098?
A: Lenders or mortgage servicers need to file IRS Form 1098 if they received $600 or more in mortgage interest from an individual during the tax year.
Q: What information is reported on IRS Form 1098?
A: IRS Form 1098 reports the amount of mortgage interest paid by the taxpayer, the recipient's name and address, the property address, and the loan number.
Q: When is IRS Form 1098 due?
A: IRS Form 1098 is due to the recipient by January 31st and to the IRS by February 28th (or March 31st if filed electronically).
Q: Can I deduct the mortgage interest reported on IRS Form 1098?
A: Yes, in most cases, you can deduct the mortgage interest reported on IRS Form 1098 if you itemize your deductions on Schedule A of your tax return.
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.
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