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How do I enter my mortgage statement when my lending bank is not listed?

I use CMG Financial and it's not available as an option.
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2 Replies

How do I enter my mortgage statement when my lending bank is not listed?

When you enter your Mortgage 1098....You ignore the bank selection....go down to the bottom of the page and click on:

"Change how I enter my form"
Then the bottom of the  next page

"Type it in Myself" 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
RayW7
Expert Alumni

How do I enter my mortgage statement when my lending bank is not listed?

Form 1098 Mortgage Interest Statement is used by lenders to report the amounts paid by a borrower if it is $600 or more in interest, mortgage insurance premiums, or points during the tax year. Lenders must file a separate Form 1098 for each mortgage you hold.

 

If a mortgage does not meet the $600 interest threshold, the form does not have to be filed. Even so, lenders may file one anyway. The information on this form may be used for certain tax deductions related to interest, mortgage insurance premiums, or points paid.

 

The IRS requires most of these forms (excluding 1098-C) to be completed and sent to taxpayers by February 1 of each year so that taxpayers can use the information to complete their tax returns.

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