topic Form 1098 mortgage interest. I hold a mortgage for an individual, do I need to send them a 1098 and also send to the IRS? in Deductions & credits

Form 1098 mortgage interest. I hold a mortgage for an individual, do I need to send them a 1098 and also send to the IRS?

john31 — Tue, 04 Jun 2019 21:56:26 GMT

No, you do not need to issue a Form 1098 as an individual...

AnnetteB — Tue, 04 Jun 2019 21:56:27 GMT

No, you do not need to issue a Form 1098 as an individual holding a mortgage.

However, you do need to give the buyer a statement showing the total mortgage interest you received from them, your name, address, and Social Security number. With that information, they will be able to claim the interest paid on their return and you will show the interest as income on your return.

FYI ... you will also need their name, address & SS# for...

Critter — Tue, 04 Jun 2019 21:56:29 GMT

FYI ... you will also need their name, address & SS# for your return to report the interest income on the Sch B.

Re: No, you do not need to issue a Form 1098 as an individual...

MRD4 — Wed, 15 Feb 2023 21:05:48 GMT

How do,I enter the interest paid to me from a loan a hold

Re: Form 1098 mortgage interest. I hold a mortgage for an individual, do I need to send them a 10...

DanaB27 — Mon, 20 Feb 2023 15:21:17 GMT

If you received interest income you will enter it with these steps:

Click "Wages & Income" (under Federal) from the left side of your screen
Scroll down and click "Show more" next to "Investments and Savings"
Scroll down and click "Start or Edit/Add" next to " Interest on 1099-INT"
Answer "Yes" to the question " Did you receive any interest income?"
Click "Enter different way"
On the "OK, let's start with one investment type" screen select "1099-INT"
Select "Type it myself"
Enter who paid you the interest and enter the interest amount in box 1

@MRD4