What Is Form 1098: Mortgage Interest Statement?
Form 1098 is a form filed with the Internal Revenue Service (IRS) that details the amount of interest and related expenses paid on a mortgage during the tax year. Form 1098 is used to report interest payments made by an individual or sole proprietor to the government for tax purposes. The form is issued by the lender or other entity receiving the interest to the borrower who can use the information to deduct the interest paid from his or her taxable income.
1098’s (Interest Paid on your Home Loans) will be mailed to your home address by January 31.
The interest paid and homeowners insurance (Escrow) you paid on your mortgage will be included in your monthly statement, normally the October through December statements.Go to main navigation