Instructions 2026

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The document provides detailed instructions for completing Form 1098, which is used to report mortgage interest and mortgage insurance premiums received by lenders during the tax year. It outlines who must file the form, specific reporting requirements, exceptions, and guidelines for various scenarios such as overpayments and points paid on mortgages. The document also includes information on future developments regarding mortgage insurance deductibility and emphasizes the importance of adhering to IRS regulations.

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Begin by entering the recipient's name, address, and telephone number in the designated boxes. Ensure accuracy as this information is crucial for reporting.
In Box 1, report the total mortgage interest received from the payer(s)/borrower(s) during the calendar year. This includes all applicable interest but excludes government subsidy payments.
For Box 2, enter the outstanding mortgage principal as of January 1 of the reporting year. If you originated or acquired the mortgage in that year, provide the relevant principal amount.
Complete Box 4 with any refunds of overpaid interest from prior years. This ensures accurate reporting of financial transactions.
If applicable, fill out Box 5 for Mortgage Insurance Premiums (MIP) received during the year, ensuring it meets the $600 threshold for reporting.

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Versions	Form popularity	Fillable & printable
2022	4.8 Satisfied (112 Votes)
2021	4.2 Satisfied (73 Votes)
2020	3.9 Satisfied (36 Votes)
2019	4.4 Satisfied (240 Votes)
2018	4.4 Satisfied (40 Votes)
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2013	4.3 Satisfied (192 Votes)
2012	4.3 Satisfied (197 Votes)

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