How Do I Get a 1098 Mortgage Interest Statement for the IRS?

Save
Contact your lender if you haven't received your 1098 statement in time for tax preparation.
Contact your lender if you haven't received your 1098 statement in time for tax preparation. (Image: moodboard/moodboard/Getty Images)

You need to know the amount of mortgage interest you paid during the year to claim a mortgage interest deduction on that year’s tax return. A mortgage company reports this on a 1098 Mortgage Interest Statement but is not under any obligation to send you this statement within a specified time period. You can request the statement from your mortgage company, but you don’t need the actual statement to file your return -- just an accurate and verifiable calculation of the interest you paid.

Mortgage Company

If you are filing your return and haven’t received your 1098 form, call or write the mortgage company to request it. Also check your mortgage statements; the company may have tallied the entire year’s interest on your December or January statements.

Missing or Non-Traditional Mortgage

If your mortgage company is slow to respond or if your mortgage is with an individual or other non-traditional entity, you can calculate the interest you paid by adding each month’s amount from your 12 monthly mortgage statements or other financial records. Keep any documentation you used to arrive at your calculation in case you are questioned by the Internal Revenue Service or audited.

Related Searches

References

Promoted By Zergnet

Comments

You May Also Like

Related Searches

Check It Out

4 Credit Myths That Are Absolutely False

M
Is DIY in your DNA? Become part of our maker community.
Submit Your Work!