Sample Mortgage Statement For Taxes In Minnesota
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Looking for your property tax statement? You can get a copy of your property tax statement from the county website or county treasurer where the property is located. For websites and contact information, visit County Websites on Minnesota.
You can get your mortgage info by going to your lender's website. Other documents, like your monthly mortgage bills and your Closing Disclosure (or HUD-1), will also have some of this information. Your lender should send you a 1098 by January 31.
If you itemize your deductions on Schedule A (Form 1040), only include the personal part of your deductible mortgage interest on Schedule A (Form 1040), lines 8a or 8b.
If you are required and you do not file electronically, you may be subject to a penalty of up to $100 per 1098 form.
You can get your mortgage info by going to your lender's website. Other documents, like your monthly mortgage bills and your Closing Disclosure (or HUD-1), will also have some of this information. Your lender should send you a 1098 by January 31.
As a new homebuyer, you will want to be on the lookout for Form 1098, “Mortgage Interest Statement” which is used to report mortgage interest, including points. This form can help you claim these deductions on your Form 1040. Typically, Form 1098 is mailed to you in January.
You might be able to deduct the Form 1098 amounts if they meet the guidelines for that amount. Put Box 1, deductible mortgage interest, and Box 6, points, into your Schedule A (Form 1040), Line 8a.
No, you don't have to file Form 1098 or submit it with your tax return. You only have to indicate the amount of interest reported by the form. And you generally only report this interest if you are itemizing deductions on your tax return.
