There's not supposed to be. The 1098-Mortgage Interest Statement is NOT for reporting property taxes paid. The IRS doesn't intend that form to be used for that purpose. (Though many lenders incorrectly and in direct violation of IRS guidelines report property taxes paid in box 4 or elsewhere on the form.)
Your mortgage payment does not include "property taxes" or anything else for that matter. Your payment consist of three things.
- Interest on the outstanding loan balance
- Principle to pay back the borrowed money, thus reducing the amount of borrowed money you still owe.
- Escrow. Money deposited to the escrow account is *your* money, and remains your money until it is used to pay for things like insurance and property taxes.
Generally, lenders do not trust the borrower to pay things like property taxes and property insurance. So as a condition of the loan they require you to include with your monthly payment each period, 1/12 of the estimated fees that will need to be paid. You see, if property taxes are not paid, then the taxing authority can and will put a lien on the property. If such taxes remain unpaid then the taxing authority will foreclose on the property and take 100% ownership of the property so they can sell it to the highest bidder at auction to get those property taxes you did not pay.
The lender is not going to risk them losing the property, which the lender has a lien on as collateral in case you don't pay back the borrowed money. If you're not paying taxes, then chances are high you're going to stop paying the loan too, if you haven't stopped already. So that's why you pay money into an escrow account with each payment.
When property insurance and property taxes come due, the bill you get says something like "DO NOT PAY". That's because they have already sent the "real" bill to your lender. Then the lender will use "YOUR" money in the escrow account to pay it. What they pay for property taxes is then deductible from your taxable income on your tax return each year.
Every year, a month prior to the anniversary of your closing on the loan the lender will send you an Escrow Analysis Report. On that report it will show your monthly deposits to the escrow account over the previous year, along with any withdrawals done by the lender to pay any fees you agreed to have them pay on your behalf, when you signed the loan documents at the closing. Those withdrawals will be clearly identified too. For example, on my analysis statement it shows a withdrawal in Nov 2016 of an amount for "Real Estate Taxes Paid". It also shows an amount withdrawn in Feb of 2016 for "Hazard Insurance". For a primary residence or 2nd home, insurance isn't a deductible expense. But the real estate taxes are.
If you have online access to your mortgage account, you can log on and I'm sure there's a link for the most recent escrow analysis, and links to show property taxes and insurance paid from the escrow, as well as the date they were paid. Pay attention to the date too. You want payments made in 2016, and not for 2017.
