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1098

Form 1098 is used to report interest paid on a mortgage (including points) and certain mortgage insurance premiums received from individuals in the course of trade or business, also including reimbursements of overpaid interest.

What is a 1098?

Form 1098 is used to report interest paid on a mortgage (including points) and certain mortgage insurance premiums received from individuals in the course of trade or business, also including reimbursements of overpaid interest.

Why do I file 1098?

The IRS requires that all income and deductible expenses are reported by businesses and individuals or penalties could apply.

Who needs to file 1098?

A mortgage company files Form 1098 to report interest of $600 or more paid by the payer/borrower for each mortgage held. Form 1098 is not required for interest received from a business, trust, estate and some other entities. See the official IRS instructions.

What to report

Mortgage interest, including points, received by you from an individual, including a sole-proprietor.

Amount to report

$600 or more per mortgage.

Supported 1098 Forms

We've made it easy to use to file your 1098 forms through Yearli. Simply create a Yearli account, enter or import your data, review, update and validate your data, then checkout. It's that easy. We'll file your forms to the IRS, applicable state agency and send copies to your recipients.

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