Form 1098, Mortgage Interest Statement
- Taxpayers should receive Form 1098 Mortgage Interest if they paid more than $600 worth of mortgage interest during the tax period
Follow the instructions below to correctly enter the Form 1098 Mortgage Interest Statement:
1. Select Add Form .
2. Begin by typing 1098, into the search bar at the bottom of the All Forms and Schedules Menu.
3. Select Form 1098 Mortgage Interest Statement. Double-click to add the form.
4. If a joint return, choose New Taxpayer's or New Spouse's Occurrence.
5. Complete the 1098, filling in all applicable sections.
Mortgage interest and the property taxes entered on Form 1098 are both Itemized Deductions and will flow to the SCH A. Unless a taxpayer is itemizing on their return entering Form 1098 will not change their federal refund.