Question

What is the purpose of a 1098 tax form?

Answer 1

Form 1098 is used to report mortgage interest paid for the year. Lenders are required to issue Form 1098 when a homeowner has paid $600 or more in mortgage interest during the tax year. To deduct mortgage interest, you must be the primary borrower on the loan, and be actively making payments.

Step-by-step explanation:

Answer 2

Answer: This form is used to report mortgage interest paid for the year. Also, lenders are required to issue Form 1098 when a homeowner has paid $600 or more in mortgage interest during the tax year.

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