What can I do if I forgot to file my 1098 form?

[thampton92]

I have already completed my return and I just received my 1098 form today for my mortgage interest. Do I need to file it still and if so how?

[FrankF1]

Depending on your situation, you may not need to do anything.

If you already filed your tax return using TurboTax Free Online edition, you did not qualify for itemized deductions (TurboTax used your Standard Deduction instead.) If the mortgage interest and mortgage insurance (if any) reported on Form 1098 is for a small amount, it is likely that it would have little or no impact on your tax situation.

However, if you paid a larger amount of mortgage interest during 2015, consider preparing an amended tax return to add this new information to your return. Keep in mind that you will need to upgrade your TurboTax Free Online edition product to TurboTax Deluxe or higher to include your mortgage interest on an amended tax return as an itemized deduction.

You won’t be able to amend your 2015 tax return until mid-February when the final forms become available.

To amend your tax return, follow the instructions below:

https://ttlc.intuit.com/replies/3288565

[Babysand]

I forgot to file my 1098 , my interest paid is $4029.85 , so I redo my taxes ? I have already done them and sent them on turbo tax ? 

Thanks for your help 

Teresa Estrada 

[AbrahamT]

So depending on your filing status and whether you took the standard deduction or itemized your deductions last year, you may come out ahead of the game if this amount puts you over the standard deduction that you already claimed. Even if youn itemized last year, this figure may increase your itemized deduction figure to an even greater number thereby decreasing your taxable income . As a result, your overall taxes from last year would decrease and would serve you as a benefit. That all being said, you would file an amended return for last year.