Form 1098, Mortgage Interest Statement
Use Form 1098 to report mortgage interest of $600 or more received by you during the year in the course of your trade or business from an individual, including a sole proprietor. Report only interest on a mortgage as defined in the Instructions for Form 1098. Also use Form 1098 to report mortgage insurance premiums of $600 or more for the calendar year received by you from individuals in the course of your trade or business.
The $600 threshold applies separately to each mortgage; thus, file a separate Form 1098 for each mortgage. You may, at your option, file Form 1098 to report mortgage interest of less than $600, but you are subject to the rules in the Instructions for Form 1098.
If an overpayment of interest on an adjustable rate mortgage (ARM) or other mortgage was made in a prior year and you refund (or credit) such overpayment, you may have to file Form 1098 to report the refund (or credit) of the overpayment.
General Instructions for Certain Information Returns (Forms 1097, 1098, 1099, 3921, 3922, 5498, and W-2G)
Other Items You May Find Useful:
Publication 542, Corporations
Form 1096, Annual Summary and Transmittal of U.S. Information Returns
Publication 1179, General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498,W-2G, and 1042-S
Publication 1220, Specifications for Filing Forms 1097, 1098, 1099, 3921, 3922, 5498, 8935, and W-2G Electronically
Comment on Form 1098
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