Get the free 2013 Form 1098 - irs

Per the IRS: Report only interest payments made in the course of y... ... http:// www.irs.gov/pub/irs-pdf/f1098 13.pdf Mauser 22; 3 years ago. Comment.

How to fill out 2013 form 1098

How to fill out 2013 form 1098:

1. Gather all necessary information: Before filling out the form, make sure you have all the relevant information at hand. This includes the payer's name, address, and taxpayer identification number, as well as the recipient's name, address, and taxpayer identification number.
2. Enter payer and recipient information: On the form, there will be designated sections to enter the payer's information and the recipient's information. Fill out these sections accurately and completely. Ensure that the information matches the official records and documents.
3. Report mortgage interest: Form 1098 is used to report mortgage interest payments. If you are a payer, enter the total amount of mortgage interest paid during the tax year. Make sure to only include deductible mortgage interest. If you are the recipient, verify that the reported amount matches what you have paid.
4. Specify points paid: If there were any points paid during the tax year, provide the necessary details in the designated section of the form. Points are typically paid when obtaining a mortgage or refinancing. Consult the appropriate documentation to accurately report this information.
5. Include property taxes: If the property on which the mortgage is based had any property taxes paid during the tax year, enter the total amount in the specified section. Again, ensure that the reported amount aligns with the official records.
6. Review and double-check: Once you have completed filling out the form, review all the information entered. Double-check for any errors or omissions to ensure accuracy. Mistakes could lead to unnecessary delays or problems during the tax filing process.

Who needs 2013 form 1098:

1. Homeowners with a mortgage: The 2013 form 1098 is primarily used by homeowners who have a mortgage on their property. It is not required for individuals who do not have a mortgage or those who rent their homes.
2. Payers and recipients of mortgage interest: The form is necessary for both the payer and the recipient of the mortgage interest. Payers are responsible for providing accurate information about the mortgage interest paid, while recipients use the form to verify the amount of mortgage interest they have paid for tax purposes.
3. Payers reporting points and property taxes: Individuals who paid points or property taxes on the property tied to the mortgage during the tax year may also need to use the 2013 form 1098 to report these expenses accurately.

Overall, the 2013 form 1098 is essential for homeowners with a mortgage, as well as for individuals involved in reporting mortgage interest, points, and property taxes. It helps ensure accurate reporting of deductible expenses and facilitates the proper filing of taxes.

For pdfFiller’s FAQs

What is form 1098 - irs?

Form 1098 is used to report mortgage interest and certain points paid on a loan.

Who is required to file form 1098 - irs?

Financial institutions, such as banks and credit unions, are required to file form 1098 to report mortgage interest.

How to fill out form 1098 - irs?

Form 1098 must be filled out with accurate information regarding the mortgage interest paid and points accrued.

What is the purpose of form 1098 - irs?

The purpose of form 1098 is to provide the IRS with information regarding mortgage interest payments for tax reporting purposes.

What information must be reported on form 1098 - irs?

Form 1098 must include the borrower's name, address, and Social Security number, as well as the amount of mortgage interest paid.

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