At the end of each calendar year, your mortgage lender issues a Form 1098, an Internal Revenue Service document that details all mortgage interest you paid for the tax year as long as the interest paid exceeded the minimum paid requirements for that tax year. As of 2010, if you paid $600 or more in mortgage interest payments, the lender must issue a Form 1098. You use the information from Form 1098 to prepare IRS Schedule A—Itemized Deductions. You should receive the form by Jan. 31 following the tax year. The lender will submit a duplicate copy to the IRS. If you do not receive Form 1098, you should make an attempt to obtain the form before filing your tax return.
Log onto the Internet and access your mortgage account if your mortgage lender provides you with online access. Check to see if the lender posts a copy of the Form 1098 online that you can print for submission with your tax return.
Call your mortgage lender if the information is not available online. Your lender should be able to mail you a duplicate copy of your Form 1098.
Contact the individual financing the home if the home is independently financed by the owner and not through a lender. Many homeowners are not aware of the Internal Revenue Service legislation, and their failure to complete Form 1098 probably is not intentional. The form can be downloaded from the IRS website.
If you cannot obtain a Form 1098 despite your best efforts, obtain your total interest paid for the year from your online account or monthly mailed account statements and use that figure to prepare your tax return.
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