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2021	4.2 Satisfied (73 Votes)
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Is a 1098 the same as a w2?

What are these forms? 1098-T: Provides summary of payments made for qualified tuition and related expenses W-2: Used to report a student employees annual wages and the amount of taxes withheld.

Do I have to file Form 1098 on my taxes?

No, you dont have to actually file Form 1098that is, submit it with your tax return. You only have to indicate the amount of interest reported by the form. And you generally only report this interest if you are itemizing deductions on your tax return.

Who needs a 1098 form?

If you receive mortgage interest of $600 or more in the course of your trade or business, you are subject to the requirement to file Form 1098, even if you are not in the business of lending money.

What is the form 1098 used for?

Use Form 1098, Mortgage Interest Statement, to report mortgage interest (including points, defined later) of $600 or more you received during the year in the course of your trade or business from an individual, including a sole proprietor. Report only interest on a mortgage, defined later.

the form 1098

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