Printable blank Form 1098 (2020)
What is IRS Form 1098?
IRS Form 1098 is a necessary form for filling for those who are preparing to take a mortgage. The form is filled by lenders and issued to borrowers.
What I need IRS Form 1098 for?
- Form 1098 is used for reporting the US government about any kinds of information related to a lender, borrower, or mortgage;
- To show the amount of taxes paid during the year;
- The form is required to fill only if you are engaged in a trade or business and get $600 or more of mortgage interest.
- If you do not receive the interest, you do not need to fill the form.
Filling out IRS Form 1098
The process of the form completion is quite easy and fast, despite the fact that it is pretty long. The form consists of two parts:
- The left part provides information about lenders and borrowers: their names, addresses, and so on;
- The right side has 9 boxes. In Box,1 enter your mortgage interest, in Box 2 — mortgage principal as of January 1st, in Box 3 — date of the mortgage, in Box 4 — refund of overpaid interest, in Box 5 — insurance premiums, in Box 6 — points paid on purchase of principal residence, in Boxes 7-9 — property and addresses.
Organizations that work with IRS Form 1098
Relevant to 1098 form 2021
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