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matterickson
Level 2

mortgage interest statement Copy A to be filed with form 1096?

I refinanced my home in 2019. Seems straight forward enough. Although I've received three Mortgage Interest Statements. The first two are Copy B (For payer/Borrower) and both of these have Mortgage interest, an outstanding mortgage principal amount, one of which has a small mortgage insurance premium amount. 

 

The 3rd MIS appears to be Copy A (for Internal Revenue Service Center). Underneath the Copy A language a line states "File with Form 1096". What? Why can't this be more straight forward. This one doesn't have an amount in box 2 (outstanding mortgage principal} but has  a very large amount of Mortgage Insurance Premium in box 5 of the 1098. I entered the info available as my 3rd 1098 but when I go to review my return and check for errors, an error is found and prompts me to enter the Outstanding Mortgage principal in box 2, which is blank on the form i received. I'm lost and don't know what to enter here and I sure don't want to be audited.

 

It appears I can ignore and file as-is but again, don't want to be audited, should i just leave blank and file as-is? Please advise. 

5 Replies
Critter
Level 15

mortgage interest statement Copy A to be filed with form 1096?

 
Critter
Level 15

mortgage interest statement Copy A to be filed with form 1096?

That makes no sense ... only the bank issuing the 1098 needs to file anything with the IRS ... so why did they send you the B copy ?   Are either of the copy B marked as corrected ?   If you are confused I would contact the issuer to ask them to explain what they send and why. 

Anonymous
Not applicable

mortgage interest statement Copy A to be filed with form 1096?

it's important to find out in that 1098-mtge was filed with the iRS.  if not your return will either be rejected or you'll get a notice from the iRS saying your mortgage interest deduction doesn't match the 1098's the IRS has on file. 

Anonymous
Not applicable

mortgage interest statement Copy A to be filed with form 1096?

 
matterickson
Level 2

mortgage interest statement Copy A to be filed with form 1096?

The 1098 Copy B's both came from the banks/mortgage holders. The first one is the loan I paid off, the 2nd is the new loan. 

 

The 3rd appears to be the mortgage broker group i used to facilitate the refi. On this 1098, I see the Copy A language (For internal Revenue Service Center) and "File with form 1096". It seems they may have held the mortgage for a week or so until the deal with the 2nd mortgage closed. Perhaps they are using this as a method to report the total amount of Mortg. Ins. Premium I paid and a very small amount of interest I paid (less than 100) during the 1-2 week transition period? Idk...guess i need to call them. Thanks for the speedy response.   

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