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IRS FORM 1098 I received a the corrected one what should I do

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IRS FORM 1098 I received a the corrected one what should I do

You received a Corrected 1098? If this is the Mortgage Insurance Premium amount added to Box 5 of the tax form. It is mainly because of the recent Tax Laws which extended the expired credits. Mortgage Insurance Premium is one of the credit extended.

Depends on your situations if you have filed your taxes or not. If you have not file your taxes, you can use the corrected 1098 in replace of the original one to claim the mortgage insurance premium.

If you have already filed your tax return and received either "Accepted" or "Rejected notice, here is what you need to do. Don't do anything until you receive the notice. 

If your return was Rejected, you can just go back in and fix the issue and add the corrected 1098. Then e-file it again.

If your return was Accepted, wait until the Government processed your return. Then, you will need to amend your it and also include the corrected 1098. By using this method, you will need to print out the return and use mail-in method.

Here is helpful instructions on how to amend tax return.


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