IRS Form 1098, Mortgage Interest Statement
Lenders use Form 1098 to report mortgage interest and related amounts received from a borrower.
Opens a fillable version in your browser. Free, no account, and free to download. This is a helper, not the official form.
About IRS Form 1098
Form 1098 is an information return that mortgage lenders file to report mortgage interest of a specified amount or more received from an individual during the year. Borrowers receive a copy to help them claim the mortgage interest deduction if they itemize.
In addition to mortgage interest, the form can report related items such as points paid on the purchase of a main home, mortgage insurance premiums when applicable, and refunds of overpaid interest. It also shows the outstanding mortgage principal and the property address.
Taxpayers who itemize deductions generally report deductible mortgage interest on Schedule A. Deduction limits may apply based on the loan amount and how the loan proceeds were used, so follow the official instructions and Publication 936.
Who needs to complete it
- Homeowners who paid mortgage interest during the year and may itemize deductions.
- Lenders and servicers that received mortgage interest from borrowers.
- Taxpayers who paid deductible points on a home purchase or refinance.
- People determining their itemized deductions on Schedule A.
How to fill out IRS Form 1098
- 1Enter the lender or recipient name, address, and taxpayer identification number.
- 2Enter the payer or borrower's name, address, and taxpayer identification number.
- 3Report the mortgage interest received from the borrower during the year.
- 4Report any points paid on the purchase of a principal residence, if applicable.
- 5Report the outstanding mortgage principal and the mortgage origination date.
- 6Report any refund of overpaid interest and mortgage insurance premiums if reportable.
- 7Provide the address or description of the property securing the mortgage.
- 8Follow the official line-by-line instructions to complete remaining boxes before filing.
Ask AI about this form
Get plain-language help understanding IRS Form 1098. General guidance only, not legal or tax advice.
Frequently asked questions
Do I have to itemize to benefit from Form 1098?
Yes. Mortgage interest is an itemized deduction reported on Schedule A. If you take the standard deduction, the interest on Form 1098 does not reduce your taxable income.
Are points shown on Form 1098 deductible?
Points may be deductible in the year paid or over the life of the loan, depending on the circumstances. Follow the official instructions and Publication 936 to determine the correct treatment.
Why is my mortgage interest lower than what I expected?
The reported amount includes only interest, not principal, escrow, or certain fees. Compare it to your monthly statements and contact your servicer if it seems incorrect.