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Page 4 of 6 of Form 1098 4 The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing. Instructions for Payer/Borrower A person (including
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Who needs 2005 instruction 1098 instructions?
01
Individuals who received mortgage interest of $600 or more from someone during the tax year
02
Lenders or financial institutions who paid a minimum of $600 in mortgage interest to an individual during the tax year
03
Taxpayers who want to claim deductions for mortgage interest payments made during the tax year
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What is instruction 1098 instructions for?
Instruction 1098 is used to report mortgage interest of $600 or more received by an individual during the year from one or more individuals in the course of their trade or business.
Who is required to file instruction 1098 instructions for?
Lenders, banks, financial institutions, and individuals who receive mortgage interest payments of $600 or more from one or more individuals in the course of their trade or business are required to file instruction 1098.
How to fill out instruction 1098 instructions for?
Fill in the payer's information, recipient's information, and the amount of mortgage interest received during the year. Then file the form with the IRS.
What is the purpose of instruction 1098 instructions for?
The purpose of instruction 1098 is to report mortgage interest payments to the IRS for tax purposes.
What information must be reported on instruction 1098 instructions for?
The form must include the payer's name, address, and tax identification number, the recipient's name, address, and tax identification number, and the amount of mortgage interest paid.
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