Where to enter 1098-F Form. I would like to use this as part of my deductions.

[rubgetsip68]

This is a fairly new form, added by the IRS this year.  So, where should I enter the form to avail of the deduction in box 3?

[PattiF]

Under a new federal law, Beginning January 2023, the IRS requires Government entities to send a Form 1098-F to the IRS reporting the amount required to be paid pursuant to a suit, court order (order), or agreement with respect to any violation of a law or the investigation or inquiry into the potential violation of a law.  The governmental entity must also issue a copy of Form 1098-F to the person required to make the payment.  Form 1098-F is for FEDERAL tax informational purposes only. It is not a tax bill.  You do not report it on your tax return.   

[rubgetsip68]

Thank you for this information. I am really hoping that I can use this form for deduction purposes. I've read that "for taxpayers seeking to claim deductions, amounts reported in boxes 3 (restitution) and box 4 (compliance) are critical information for substantiating the amount of any deduction because they are acknowledgment of the amounts that are deductible under Code Section 162(f)(2)". I am really hoping that I could use the amount in box 3 as part of the deductions. Any thoughts?

[JohnB5677]

Form 1098-F is not the source document that will qualify you for a deduction.

"Form 1098-F may not be used to satisfy the requirements necessary to obtain a deduction under 162(f)(2) nor must Form 1098-F be submitted in order for a deduction to be claimed. In determining what deductions, it may claim under 162(f)(2), the employer/respondent/defendant should consult the IRS and its own tax professional."

You can call toll-free at 1-800-829-1040 or contact a Taxpayer Assistance Center Local IRS Office.

 What You Should Know About IRS Form 1098F

[rubgetsip68]

Hello!

Thank you for this information. I will definitely call the IRS for guidance. Have a great day!

[TN28]

Wondering if you ever found out from the IRS how to deduct this? Any help is greatly appreciated!

[DaveF1006]

A 1098-F form is required for government or governmental entity and certain nongovernmental entities to report certain fines, penalties, and other amounts paid. These types of payments made are not deductible on your tax return.

@TN28