What is Form 1098?
A plain old Form 1098 (without an 'E', 'T', or 'C') is a mortgage interest statement. It shows how much mortgage interest, points, and PMI (Private Mortgage Insurance premiums) you paid during the previous year. If you're also paying your real estate taxes (aka property taxes) through your lender, it'll show that too.
- Here’s where to enter your 1098 in TurboTax. If you're using the TurboTax mobile app, use these instructions.
If your 1098 doesn't match what you paid
- If you think your 1098 may not include amounts you paid for PMI, property taxes or other items, contact your lender.
- If your property/real estate taxes that you paid aren’t listed on your 1098, you’ll enter them separately as property/real estate taxes (Here's how). But, any points or insurance will be entered in the 1098 section of TurboTax.
- If you need help reading your closing statement, contact your real estate broker or loan broker, who will be familiar with your particular situation.
Your mortgage company should send you Form 1098 in late January or early February. You might also find your 1098 information on your January mortgage statement or bill.