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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 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.
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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