Why didn’t I receive a Form 1098?
You may not receive a Form 1098 if:
• No mortgage interest was paid during the year
• You were in forbearance and did not make payments
• Payments were made by a third-party assistance program
• Your loan transferred before interest was paid
Why did I receive more than one Form 1098?
You may receive multiple Forms 1098 if:
• Your loan transferred during the year
• Your loan was assumed by another borrower
• You have more than one mortgage
Each servicer reports only the activity for the time they serviced your loan.
Why doesn’t all the interest I paid appear on my Form 1098?
Mortgage interest is reported only through January of the following year. Payments made for future months will appear on the next year’s form. In some cases, interest from prior periods may also be included if delinquent payments were made during the year.
Will both borrowers’ names appear on the tax form?
The primary borrower’s name will appear on the tax form, and one co-borrower’s name may also appear if applicable.
IRS rules allow only one Social Security Number to be reported on the form, which is typically the primary borrower’s.
Will I receive a Form 1099-INT?
You may receive a Form 1099-INT if:
• Your escrow account earned interest
• The total interest earned was $10 or more
• Your state requires escrow interest to be reported
Why did I receive Form 480.7A instead of a Form 1098?
If your property is located in Puerto Rico, you will receive Form 480.7A instead of a Form 1098. This form serves the same purpose and meets local tax reporting requirements.
I received additional notices with my tax documents. What are those?
You may receive additional annual notices, such as FHA prepayment disclosures, PMI notices, or state-required loan summaries. These are informational and are not tax forms.
Legal disclaimer
This information is provided for general informational purposes only and does not change the terms of your loan. We are not able to provide tax advice.