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Official form guide
Form 1098: Mortgage Interest Statement
IRS Form 1098 is Mortgage Interest Statement used to report mortgage interest received by a trade or business from an individual. It must be filed if $600 or more of mortgage interest is received during the year.
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IRS Form 1098 - Mortgage Interest Statement
IRS Form 1098 is Mortgage Interest Statement used to report mortgage interest received by a trade or business from an individual. It must be filed if $600 or more of mortgage interest is received during the year.
Risk Radar
Scan points- 1Do not aggregate Mortgage Insurance Premiums (MIP) across all mortgages; the $600 threshold must be met on a mortgage-by-mortgage basis.
- 2Failing to file a separate Form 1098 for each individual mortgage reported.
- 3Reporting interest received as housing assistance from HUD on section 235 mortgages.
- 4Including seller-paid interest (like buy-downs) in box 1 instead of using box 10.
- 5Incorrectly reporting reimbursed interest when the overpayment is settled in the same year.
Plain English
This form tells the IRS how much interest was paid on a mortgage you received during the year. If you are in business, you use this to report that income to the IRS and give a copy to the person who paid it. It ensures your mortgage interest is counted correctly for tax purposes.
Submission Date
- Filing date: The filing is required based on when the interest was received during the calendar year; continuous-use revisions are used to file information for a given year in early 2027.
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when you receive mortgage interest of $600 or more from an individual during the calendar year and are engaged in a trade or business.
- Do not use Form 1098 if the interest is received from a corporation, partnership, trust, estate, association, or company (unless that entity is a sole proprietor).
- Check other sections of Form 1098 when reporting mortgage insurance premiums (MIP) of $600 or more under section 163(h)(3)(E).
Form selector
Use this form or another form?
Interest received from a corporation, partnership, etc.
The payer is not an individual (unless they are a sole proprietor).
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Not stated in the official source
Mortgage interest of $599 or less
Interest amount falls below the required reporting threshold for one mortgage.
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Not stated in the official source
Interest received on only one property and Box 10 is blank
The recipient has no other information (like taxes/insurance) to report beyond the interest itself.
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Not stated in the official source
Deadline or filing window
The filing trigger is receiving $600 or more of mortgage interest during the calendar year. The deadline for furnishing this information to recipients and the IRS is in early 2027, using the April 2025 revision. No specific extension period is stated in the instructions.
Checklist
What you need before filling it out
Mortgage Interest
Mortgage interest amount ($600 or more) · Form 1098
Mortgage Insurance Premiums (MIP)
MIP amount ($600 or more) · Form 1098, Box 5
Filer Obligation Trigger
Receiving $600+ interest/MIP from an individual in trade or business · Instructions p.2
Mortgage Definition
Any obligation secured by real property (land and attached items) · Instructions p.2
E-filing Threshold
10 returns aggregated · Instructions p.1
Acquisition Date
Date recipient/lender acquired the mortgage · Form 1098, Box 11
Before you submit
- 1Verify that the interest amount reported meets or exceeds $600 (or MIP meets $600) on any single mortgage.
- 2Confirm that the interest was received in the course of a trade or business, not just personally.
- 3Ensure you are reporting interest from an individual (unless they are a sole proprietor).
- 4If applicable, verify Box 5 correctly reports MIP and confirms section 163(h)(3)(E) applies.
- 5Check if the property is secured by only one loan; if so, ensure Box 4 may be blank.
- 6Review Box 10 to confirm any additional information (taxes/insurance) has been included.
- 7If applicable, verify Box 11 shows the correct date of mortgage acquisition.
How to file this form
- 1Complete all relevant boxes on Form 1098 using data from the reporting year.
- 2Determine if you need to report Mortgage Interest or Mortgage Insurance Premiums (MIP) based on the $600 threshold.
- 3Sign the form before submitting it, ensuring all required fields are populated.
- 4Keep a copy of the completed Form 1098 for your own records after filing.
Known limitations
- 1A filer must use Form 1098 even if no interest is included in income but the interest is merely transferred to another person.
- 2If a seller pays interest on a purchaser's/borrower's mortgage (such as on a “buy-down” mortgage), that interest should not be reported in box 1 of Form 1098.
- 3Interest received as housing assistance payments from the Department of Housing and Urban Development (HUD) on mortgages insured under section 235 of the National Housing Act should not be reported in box 1 of Form 1098.
- 4If interest is reimbursed in the same year it is overpaid, only the net amount should be entered in box 1 of Form 1098 (e.g., if $5,000 was paid and $500 was reimbursed, enter $4,500).
- 5If a financial institution pays interest of less than $10 on the reimbursement, it does not need to report that interest on Form 1099-INT (under section 6049), but others paying less than $600 may still be required to report it under section 6041.
Field map
Compact field-by-field guide
Lender
1 items
Mortgage servicer or lender that received interest payments.
Borrower
1 items
Your personal information as shown on the mortgage.
Box 1
1 items
Total interest received by lender. Deductible on Schedule A (up to $750,000 loan balance for post-2017 mortgages).
Box 2
1 items
Balance of the mortgage as of January 1 of the tax year.
Box 5
1 items
PMI and qualified mortgage insurance premiums paid (may be deductible).
Box 10
1 items
Property taxes collected through escrow and paid by lender.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is Revision April 2025, which should be used to file 2026 information with the IRS in early 2027. For the latest updates, readers should check IRS.gov/Form1098.
What changed or needs a fresh check
- Edition date — confirm the revision date reads April 2025.
- Form Number — confirm the form number is 1098.
- Mailing address — Not stated in the official source (but general IRS addresses apply).
- Signature — ensure the signer signs before sending.
- Recipient/Lender Acquisition Date — confirm Box 11 reflects the correct date if applicable.
Quick Facts
Downloads
After you file
- 1Retain a copy of the completed IRS Form 1098 after filing.
- 2Use the April 2025 revision of Form 1098 and its instructions to file 2026 information with the IRS in early 2027.
- 3Furnish the completed Form 1098 to the recipient.
- 4If an error occurs, use the general instructions regarding corrected returns (found in Pub. 1099) for guidance on correcting or voiding the return.
Sources
- SRCInstructions p.1 — The April 2025 revision of Form 1098 and its instructions should be used to file 2026 information with the IRS in early 2027.
- SRCInstructions p.1 — The e-file threshold was lowered to 10 (aggregated) effective for returns filed on or after January 1, 2024.
- SRCInstructions p.2 — A filer must file Form 1098 even if interest is transferred but not included in income.
- SRCInstructions p.3 — Do not report any interest received as housing assistance payments from the Department of Housing and Urban Development (HUD) on mortgages insured under section 235 of the National Housing Act in box 1.
- SRCInstructions p.5 — If interest is reimbursed in the same year it is overpaid, do not report the overpayment on Form 1098 as interest received during the year or as a reimbursement of overpaid interest.
- SRCInstructions p.6 — Qualified mortgage insurance must be under a contract issued after December 31, 2006, and provided by the VA, FHA, or RHS (or successors), or private mortgage insurance defined by section 2 of the Homeowners Protection Act of 1998.
Common confusion points
Who must file this form?
The entity that receives mortgage interest and meets other criteria must file Form 1098.
Do I need to file even if the interest isn't in my income?
Yes, a filer must file Form 1098 even if they do not include the interest received in their income but merely transfer it to another person.
Does the person who receives the interest always have to file?
No, there is an exception: if the first recipient lacks needed information AND the recipient would receive the interest in trade or business if paid directly, that recipient must report on Form 1098.
Should I report seller-paid mortgage interest?
Yes, unless it is a specific type of payment; do not report interest paid by a seller on a purchaser's/borrower's mortgage in box 1, but you may use box 10 to report this to the payer of record.
How do I handle overpaid interest reimbursement?
If reimbursed in the same year, enter only the net amount in Box 1. Do not separately enter the reimbursement amount in Box 4 unless it is a refund/credit from a prior year's overpayment.
When must I report Mortgage Insurance Premiums (MIP)?
Report the total premiums of $600 or more paid (received) for the tax year being reported, noting that this threshold applies on a mortgage-by-mortgage basis.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Corrected and void returns instructions found in Pub. 1099
Questions about IRS Form 1098
What is IRS Form 1098 used for?
This form tells the IRS how much interest was paid on a mortgage you received during the year. If you are in business, you use this to report that income to the IRS and give a copy to the person who paid it. It ensures your mortgage interest is counted correctly for tax purposes.
Who must file IRS Form 1098?
A filer must complete Form 1098 if they are engaged in a trade or business and receive $600 or more of mortgage interest (or $600 or more of MIP, if section 163(h)(3)(E) applies for the reporting year) on any one mortgage during the calendar year.
What information does IRS Form 1098 require?
The form collects details about the mortgage interest received. Specifically, it reports mortgage interest and qualified mortgage insurance premiums, with specific fields available for seller payments in box 10.
When is IRS Form 1098 due?
The filing is required based on when the interest was received during the calendar year; continuous-use revisions are used to file information for a given year in early 2027.
Where do I file IRS Form 1098?
The form can be filed electronically through the IRS online portal, IRIS (IRS.gov/IRIS). Copy B is available as a fillable PDF at IRS.gov/Form1098 for furnishing statements to recipients or keeping records.
How do I complete IRS Form 1098?
The filer must report mortgage interest of $600 or more received during the year. A separate Form 1098 is required for each individual mortgage. The form should be signed before it is sent to ensure proper documentation.
What happens if IRS Form 1098 is filed incorrectly?
Failure to file correctly means the reported interest may not align with what the IRS expects based on your business income, potentially leading to incorrect tax liability assessments.
Who must file this form?
The entity that receives mortgage interest and meets other criteria must file Form 1098.
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