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Publication 1220 Specifications for Filing Forms 1098, 1099, 3921, 3922, 5498, 8935, and W2G, Electronically Rev. Pro. 200930 Reprinted from IR Bulletin July 06, 2009 (and containing copies of Forms
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What is form 1098?
Form 1098 is a tax form used to report certain types of payments received by individuals or businesses during a tax year.
Who is required to file form 1098?
Lenders or mortgage servicing organizations who receive payments of mortgage interest in the course of their trade or business are required to file form 1098.
How to fill out form 1098?
To fill out form 1098, you need to provide the payer's and recipient's information, the amount of mortgage interest received, and any points paid on a mortgage during the tax year. The form should be submitted to the IRS and a copy must be furnished to the recipient.
What is the purpose of form 1098?
The purpose of form 1098 is to report to the IRS and the recipient the amount of mortgage interest received and points paid on a mortgage. This information is used for tax purposes and may be deducted by the recipient.
What information must be reported on form 1098?
Form 1098 requires reporting the recipient's name, address, and identification number, as well as the payer's name, address, and identification number. Additionally, the form requires reporting the amount of mortgage interest received, any points paid on a mortgage, and the property address.
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