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Does any of the turbo tax software include creating 1098-int forms?

 
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PaulaM
Employee Tax Expert

Does any of the turbo tax software include creating 1098-int forms?

I assume you mean a 1098 for a mortgage? If not, comment back here.

You do not need to send a form 1098 if you are the owner financing a home. You would only file a Form 1098 if you are in the business of providing mortgage financing (mortgage lender or bank).

You would need to provide your buyer with your social security number or an employer identification number (EIN) so that they can claim a mortgage interest deduction within their tax return. 

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3 Replies
PaulaM
Employee Tax Expert

Does any of the turbo tax software include creating 1098-int forms?

I assume you mean a 1098 for a mortgage? If not, comment back here.

You do not need to send a form 1098 if you are the owner financing a home. You would only file a Form 1098 if you are in the business of providing mortgage financing (mortgage lender or bank).

You would need to provide your buyer with your social security number or an employer identification number (EIN) so that they can claim a mortgage interest deduction within their tax return. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
jwaterman
New Member

Does any of the turbo tax software include creating 1098-int forms?

So, if I am the owner, lending the money to the buyer, I don't have to prepare a 1098, even if I collect more than $600 in interest in a year?

Does any of the turbo tax software include creating 1098-int forms?

II have 4 properties financed and have been filing 1098's for several years
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