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New Member
posted Jan 19, 2020 8:22:48 AM

Can I CREATE a 1098-M with some version of TurboTax? I need to provide them to 3 people for mortgage interest?

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1 Replies
Expert Alumni
Jan 20, 2020 2:02:18 PM

No, Turbo Tax doesn't support generating 1098. If you were a mortgage lender, then you would have been required to issue a 1098 to the borrower. 

 

However, what you can do is to prepare an amortization schedule detailing the interest, number of payments, amount to be paid and the period of the mortgage. The borrower will include those interest payments in their schedule A along with your name and ID number and address. You in turn will have to report the interest received in your schedule B as interest income received. Be sure to keep accurate amortization records of each borrower and their payments along with payment terms.