IRS Form 1098 is used by taxpayers to report the amount of interest and related expenses paid on a mortgage during the tax year when the amount totals $600 or more.

How to File Your Return With Form 1098 for Mortgage Interest. If you're ready to file taxes with a Form 1098 Mortgage Interest Statement, the easiest way to do it is to use an online tax prep program.

Do you know your form 1099 from your form 1098? Your W-2 from your W-3? Here's an explanation of your forms - just in time for the run up to Tax Day. Today: form 1098, Mortgage Interest Statement.

IRS Form 8396: Mortgage Interest Credit is used by homeowners to claim the mortgage interest credit, but you can only claim it if you receive a mortgage credit certificate.

If you paid more than $600 in mortgage interest last year, keep an eye out for a Form 1098 from your mortgage lender in early 2025. A copy of this form will also be sent to the IRS.

Text Callout : Key Takeaways - 1098 Tax Form: Mortgage Interest Statement and How to File . If you have a mortgage, you'll probably receive an IRS Form 1098 in the mail.Your mortgage lender is ...

A form 1098, Mortgage Interest Statement, is used to report mortgage interest, including points, of $600 or more paid to a lender for a mortgage. For federal income tax purposes, a mortgage is a ...

Using Form 1098 to Deduct Mortgage Interest The IRS allows homeowners to deduct home mortgage interest on the first $750,000 of indebtedness. The limit drops to $375,000 if you're married and file ...

Tax Form 1098 tells the IRS how much mortgage interest you paid last year. You may be able to deduct this amount on your Schedule A. Not all mortgage interest is tax deductible.

If you have a mortgage, you'll probably receive an IRS Form 1098 in the mail. Your mortgage lender is required to use this form if you paid more than $600 in mortgage interest last year.