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Category: 1098's

Form 1098: What do I do with my Mortgage Interest Statement?

Home mortgage interest and points are generally reported to you on Form 1098, Mortgage Interest Statement, by the financial institution to which you made the payments for the current tax year. If this form shows any refund of overpaid interest, do not reduce your deduction by the refund.Instead, you generally report the amount of the refund as other income.

If you did pay any qualifying mortgage interest during the tax year, you can enter this in your TaxSlayer account. From the My Account/Welcome Back screen of your account, select Federal Section > Deductions > Enter Myself > Itemized Deductions > Mortgage Interest and Expenses.


For additional information:
What is a 1098
How can I find out if I paid mortgage insurance?
Can I take the Mortgage Interest Credit?
Can I take the Mortgage Interest Credit AND the deduction for mortgage interest that was reported on Form 1098 on the same return?