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

[Critter · Accepted solution]

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

[margi.falconi]

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

[Critter]

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.  

[margi.falconi]

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

[VolvoGirl]

Blank 1098  https://www.irs.gov/pub/irs-pdf/f1098_18.pdf

Instructions  https://www.irs.gov/pub/irs-pdf/i1098_18.pdf

[usercrpaiva]

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.