Get 2012 Instruction 1098. Instructions For Form 1098, Mortgage Interest Statement - Irs

Filling out Form 1098 is essential for those who need to report mortgage interest payments made by individuals. This guide offers a straightforward, step-by-step approach to ensure that you complete this form accurately and efficiently.

Follow the steps to fill out your mortgage interest statement correctly.

1. Click ‘Get Form’ button to obtain the form and open it for your input.
2. Enter the recipient's/lender's name, address, and telephone number in the designated box. Ensure this matches the information on Form 1096.
3. Fill in the payer's/borrower's name and address in the appropriate sections of the form, ensuring accuracy in their details.
4. In Box 1, report the total mortgage interest received from the borrower(s) during the calendar year, excluding any points.
5. If applicable, report points paid on the purchase of the payer's principal residence in Box 2. Make sure these points are properly classified.
6. If there was any refund or credit for an overpayment of interest from prior years, document this in Box 3.
7. Use Box 4 for any additional reporting, such as real estate taxes or insurance related to the property securing the loan.
8. Include the account number if you manage multiple accounts for the payer/borrower. This helps keep records organized.
9. Review all inputs for accuracy before saving your changes.
10. Once completed, you can download, print, or share the form as necessary.

Get started on filing your Form 1098 online today for an efficient tax reporting experience.