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This document outlines the annual requirements and specifications for the development and use of substitute, scannable, absolute positioning, and reproduced tax forms as prescribed by the Franchise Tax Board (FTB) of California. It includes guidelines for format, layout, keying symbols, entity data placement, and submission processes to ensure compatibility with FTB\'s automated processing systems.
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How to fill out publication 1098

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How to fill out publication 1098

01
Obtain Form 1098 from your lender, if applicable.
02
Enter the borrower's information, including their name, address, and Social Security Number (SSN).
03
Fill in the payer's information, which is typically the lender's name, address, and identification number.
04
Report the amount of mortgage interest received from the borrower in Box 1.
05
Include any points paid on the mortgage in Box 2, if applicable.
06
Fill in Box 3 with the mortgage insurance premiums, if applicable.
07
Complete Box 4 if the borrower has any refunds or repayments of mortgage interest.
08
Ensure all the information is accurate and double-check for any errors.
09
Submit the completed Form 1098 to the IRS and provide a copy to the borrower.

Who needs publication 1098?

01
Homeowners who have a mortgage and have paid interest to a lender need Form 1098.
02
Lenders that receive mortgage interest payments from borrowers are required to issue Form 1098.
03
Taxpayers who plan to itemize deductions on their tax returns may need this form for reporting mortgage interest.
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Publication 1098 is a tax form used by lenders to report the amount of interest received on a mortgage during the tax year.
Lenders who receive $600 or more in interest from a borrower on a mortgage are required to file Form 1098.
To fill out Publication 1098, lenders must provide information including the borrower's name, address, Social Security number, and the amount of mortgage interest received during the year, among other details.
The purpose of Publication 1098 is to provide the IRS with information regarding mortgage interest payments and to assist borrowers in claiming tax deductions on their mortgage interest.
Information that must be reported on Publication 1098 includes the borrower’s name, address, SSN, the amount of interest received, and mortgage insurance premiums if applicable.
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