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- Click ‘Get Form’ to open the Instructions Form 1098 in the editor.
- Begin by entering your name, address, and telephone number in the designated fields. This information is crucial for accurate reporting.
- In Box 1, input the total mortgage interest received from borrowers during the year. Ensure you include all relevant interest amounts but exclude any government subsidy payments.
- For Box 2, enter the outstanding principal amount of the mortgage as of January 1 of the reporting year. If this is a new mortgage, use the principal at origination.
- Complete Box 5 if applicable, by reporting any mortgage insurance premiums received that meet the $600 threshold.
- Review all entries for accuracy before saving your form. Utilize our platform's features to easily edit or adjust any information as needed.
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