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Returning Member
posted Jan 20, 2021 7:41:26 PM

Can TT generate Form 1098 for mortgage interest?

I loaned money to my son in 2020 as a Family Mortgage. I need to provide Form 1098 (Mortgage Interest Statement). Can any version of TT generate Copies A & B, for the IRS, and the Borrower, respectively?

Thank you.

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1 Best answer
Level 15
Jan 20, 2021 7:48:31 PM

Whether you actually need to file this form is subject to debate (you probably do not have to file).

 

See https://www.irs.gov/instructions/i1098#idm139957885503968

 

Regardless, TurboTax cannot generate any variant of Form 1098.

 

See https://quickemployerforms.intuit.com/faq.htm

3 Replies
Level 15
Jan 20, 2021 7:48:31 PM

Whether you actually need to file this form is subject to debate (you probably do not have to file).

 

See https://www.irs.gov/instructions/i1098#idm139957885503968

 

Regardless, TurboTax cannot generate any variant of Form 1098.

 

See https://quickemployerforms.intuit.com/faq.htm

Returning Member
Jan 22, 2021 9:50:19 AM

Thank you. So, in lieu of 1098, I read somewhere that a Statement of Account may be provided. Wonder if that's acceptable to the IRS.

Level 15
Jan 22, 2021 10:05:06 AM

Merely because you are not required to file the actual form does not mean you are prohibited from filing the form.

 

There are companies that support online e-filing of Form 1098 for just a few dollars per form. You can find them easily by doing a basic internet search.