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New Member
posted Jun 4, 2019 1:10:47 PM

Can i generate a 1098 mortgage interest statement in turbotax? I am the lender.

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1 Best answer
Level 15
Jun 4, 2019 1:10:48 PM

No ... unless you are in the business of lending money you do not need to produce a 1098.

6 Replies
Level 15
Jun 4, 2019 1:10:48 PM

No ... unless you are in the business of lending money you do not need to produce a 1098.

New Member
Jun 4, 2019 1:10:50 PM

I am providing financing for a home.  I need to provide the homeowners a 1098 Mortgage Interest Statement.

Level 15
Jun 4, 2019 1:10:51 PM

Again no ... you are not a bank or mortgage company so you do NOT need to file a 1098 ... read the rules.

What you do need to have is an agreed upon   amortization schedule and the payer will enter your name, address & tax ID number on their Sch A and you will in turn enter the interest they pay you on your Sch B and enter their name, address & ID number ... this is why you do NOT need to file a 1098.  

New Member
Jun 4, 2019 1:10:53 PM

Thanks for the clarification.  I understand now and have found the referenced instructions.

Level 15
Jun 4, 2019 1:10:55 PM
New Member
Jan 11, 2021 4:19:49 PM

i have the same situation, i have a mortgage loan that i receive interest from and the accountant that does my taxes said i need a 1096 and 1098, which they provide for me, for a fee.