Get the free 2013 Form 1098 - irs

Attention: This form is provided for informational purposes only. Copy A appears in red, similar to the official IRS form. Do not file copy A downloaded from this website. The official printed version

How to fill out 2013 form 1098

How to Fill Out 2013 Form 1098:

1. Gather the necessary information: Before you start filling out the form, make sure you have all the required details on 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 the payer's information: In the designated sections of the form, provide the payer's name and address. Make sure to use the correct format and double-check for any spelling errors.
3. Enter the recipient's information: Next, provide the recipient's name and address in the appropriate fields. Ensure accuracy and precision while entering this information.
4. Report mortgage interest: Box 1 of Form 1098 is specifically for reporting mortgage interest. Enter the total amount of mortgage interest paid by the recipient during the tax year. This information is usually provided by the lender.
5. Report points paid on purchase of principal residence: If any points were paid on the purchase of the recipient's main home, enter the respective amount in Box 2. These points may be listed on the settlement statement, Form HUD-1, provided by the lender.
6. Report points paid on the refinancing of the principal residence: Box 3 is used to report points paid on the refinancing of the principal residence. Enter the applicable amount if any points were paid during the tax year.
7. Report mortgage insurance premiums: If the recipient had private mortgage insurance (PMI) and was required to make premium payments, report the total amount in Box 4. The amount should be provided by the insurer or lender.
8. Enter the payer's taxpayer identification number (TIN): In Box 5, enter the payer's taxpayer identification number. Make sure to use the correct format, whether it is a social security number (SSN) or an employer identification number (EIN).
9. Enter the recipient's taxpayer identification number (TIN): In Box 6, enter the recipient's taxpayer identification number. Again, ensure accuracy and use the appropriate format based on the recipient's SSN or EIN.
10. Provide additional information: If there are any specific details or adjustments you need to report, you can utilize Box 7. However, this section is optional and may not be applicable to all recipients.

Who Needs 2013 Form 1098:

1. Homeowners with a mortgage: Individuals who have a mortgage on their primary residence should receive this form from their lender. They need the form to report the mortgage interest they paid during the tax year.
2. Taxpayers claiming deductions: Those who plan to itemize deductions on their tax return can benefit from having Form 1098. They need this form to accurately report mortgage interest and points paid, which can potentially provide tax benefits.
3. Lenders and institutions: Financial institutions or lenders who received mortgage interest payments should provide Form 1098 to their borrowers. This form helps track and document the interest paid, ensuring compliance with tax regulations.
4. Tax professionals: Tax preparers or accountants may need Form 1098 to assist their clients in accurately reporting mortgage interest and related information on their tax returns.

Note: The usage and requirement of Form 1098 may vary depending on individual circumstances. It is always recommended to consult with a tax professional or refer to the IRS guidelines for specific details relevant to your situation.

For pdfFiller’s FAQs

What is form 1098 - irs?

Form 1098 - IRS is a tax form used to report certain types of income, such as mortgage interest, received by individuals and businesses.

Who is required to file form 1098 - irs?

Individuals and businesses who receive certain types of income, such as mortgage interest, are required to file Form 1098 - IRS.

How to fill out form 1098 - irs?

Form 1098 - IRS can be filled out by providing the required information, such as the payer's name and address, the recipient's name and address, and the amount of income received.

What is the purpose of form 1098 - irs?

The purpose of Form 1098 - IRS is to report certain types of income to the IRS for tax purposes.

What information must be reported on form 1098 - irs?

Information such as the payer's name and address, the recipient's name and address, and the amount of income received must be reported on Form 1098 - IRS.

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