Do I need to amend my return if I forgot to file a 1098 - mortgage interest?

[j-eastwood90]

My mortgage was transferred mid-year and I only filed the 1098 provided by the final lender thinking that it would have the information for the entire year. I saw that the previous lender's 1098 had different numbers. When I entered the new info, it did not change my refund. Do I need to mail the return in any way?

[JohnW15 · Accepted solution]

If the new Form 1098 didn't have any information that changes your refund, or causes you to owe any money back on your taxes, then there's no need to amend your previously-filed return, or send the 1098 anywhere.

[Duke04]

The interest on my form is 1600, would it make my refund amount higher or lower? I made 91k in 2020 marriage filed joint with 2 children. My refund was just under $800. 

[JotikaT2]

It depends.

If you were able to itemize your deductions on the tax return you filed, then yes, your refund could potentially be higher.

If you took the standard deduction and that amount is still significantly higher than the omitted mortgage interest form, then it may not make a difference.

Standard deduction versus itemized deduction

Standard deduction for 2020

If you determine your refund would be higher based upon the information above, please see the link below for instructions on how to amend your tax return.

How to amend my return?

@Duke04

[BILLINGH11]

I just filed my taxes for 2021 and forgot to enter my 1098 Mortgage Interest.  Do I need to amend my taxes? I made $148k and interest paid was $550ish and paid premium is $4000ish..

[RobertB4444]

@BILLINGH11 Not yet.  Try this first.  It's a little labor intensive but it will help you figure it out.

First, log in to your TurboTax account.

The page after you log in is the Tax Home page.  It should give you the status of your return at the top.  Scroll down till you reach the bottom of the page and you should see a button that says "Add A State".  Click that button.

You aren't going to add a state.  This is just the back door in to your return.  It will let you change things without creating an amended return.

Go to the 'Deductions and Credits' section and add in the 1098.  See if it changes the return.

Either way, after you enter the 1098 you need to go back through and delete all of the information you just entered.  Then you need to close out of the return and not save anything.

If the 1098 did not change the return then you are finished.  You know the answer and you can rest easy knowing it didn't change anything

Now, if the 1098 changed the return you will need to file an amended tax return.  You need to wait until the IRS has finished processing your 2021 return and issued your refund or processed your payment before you amend the return.  Recognize that an amended return is taking the IRS 6 months to process.  Come back, log in, click on "Amend my Return" and add the 1098 in one more time.

[jcarlos7121]

This was great.

I had the same issue and with this I can now rest in peace knowing I already got the return it should be.

Thank you so much