Form 1098, Mortgage Interest Statement
Form 1098 is the statement your mortgage lender sends you to let you know how much mortgage interest, points, or private mortgage insurance you paid during the year. Normally, your lender will also use the form report real estate taxes you paid during the year as well.
Sometimes, these forms don't look like tax forms, but they should say Form 1098 somewhere on them. If you didn't receive a Form 1098 from your lender, the information might be reported on your January statement or bill from your lender.
If you paid more interest than your Form 1098 shows, you must attach a statement to your tax return that explains why you can deduct more than your lender reported on your Form 1098. However, if you received a refund of interest, you must report the refund as well.
If your name is not listed first on your mortgage form, see What If I'm Not the first name on the Mortgage Interest Form 1098?
Entering Form 1098 into TurboTax
Watch our video below on how to enter your Mortgage Interest on Form 1098, or in TurboTax use these steps to Jump to the Mortgage Interest area:
In turboTax, jump directly to the Form 1098 Mortgage Interest entry screen:
- Enter 1098 in the TurboTax search box, and press the Enter key.
- You'll jump to the Enter your Mortgage Lender screen,
Enter the lender's name and click Yes.
IF you see the Home Loan Deduction Summary screen (you've been here before), click either Add a lender, or Edit next to a lender name.
- Finish by answering the interview screens.
- Mortgage Interest Deduction
- Deducting Your Real Estate (Property) Taxes
- Schedule A, Itemized Deductions