Form 1098 is how a lender reports the mortgage interest you paid during the year. If you paid $600 or more, you'll get a copy and the IRS gets one too. Enter the lender, the borrower, and the interest, then preview a clean statement you can download. We'll also walk you through what each box means and what you can actually deduct for 2025 and 2026.
Add the lender and borrower names, addresses, and TINs, then the interest paid. It's the same information that shows up on the copy you get in the mail.
10982025
Filled
2
Fill every box
Boxes 1 through 11 fill in as you go, from the interest and principal to the points, insurance, and the address of the property securing the loan.
PDF
Form 1098
Copy B
Print
Download
3
Preview and download
Check the numbers, then download a clean PDF. Furnish the borrower copy and file with the IRS, one statement per mortgage.
Form 1098 tells the IRS what you paid. What you can deduct depends on your own return, so review the figures or check with a tax professional before filing.
Why use this
What the Form 1098 generator handles
The whole statement, on the current form, with each box explained in plain terms.
Built on the current form
It uses the April 2025 revision of Form 1098 and reflects the 2025 law, so the boxes and the deduction rules you'll read about are up to date.
Every box covered
The interest, principal, origination date, refunds, insurance, points, and the property address in Boxes 1 through 11 are each handled, plus the lender and borrower details.
Deduction estimator
See roughly how much of your interest is deductible under the $750,000 limit and what that could save you at your tax rate, before you file Schedule A.
Preview before you file
Nothing's sent anywhere. You review the filled statement and the totals first, then download it and file it yourself.
Plain-English guidance
Each box explains what it's for in everyday terms, so you can tell what you're looking at and what actually counts toward your deduction.
Free and private
There's no charge to build and preview your statement, and your figures stay with you. It's a tool to help you file accurately, not tax advice.
Inside the form
Form 1098, box by box
Tap any box to see what it means and what to watch. Form 1098 runs from the lender and borrower at the top to the property details at the bottom.
Form 10982025
RecipientRecipient's or lender's information
This is the name, address, phone number, and TIN of whoever received the interest, usually your bank, credit union, or loan servicer. It's the party reporting to the IRS, so it appears at the top of the form along with the tax year.
WatchThe lender of record files, even if it later sells or transfers the loan. A servicer collecting on someone else's behalf can note that in Box 10.
PayerPayer's or borrower's information
This carries the borrower's name, address, and TIN, plus an optional account number when the lender has more than one loan with you. You're the payer if you're the one who paid the interest during the year.
WatchA lender prepares a 1098 only for the payer of record, and only if that payer is an individual. If two people are on the loan, the total goes to the payer of record.
Box 1Mortgage interest received
Box 1 is the total mortgage interest you paid the lender during the year, not counting points. It's the figure you start from when you claim the mortgage interest deduction on Schedule A, if you itemize.
WatchBox 1 doesn't settle your deduction by itself. The $750,000 debt limit still applies, and you have to itemize instead of taking the standard deduction to use any of it.
Boxes 2 to 3Outstanding principal and origination date
Box 2 shows the outstanding principal on the mortgage as of January 1, and Box 3 shows the date the mortgage started. Together they describe the size and age of the loan.
WatchBox 2 feeds the average-balance math behind the $750,000 limit, and Box 3 tells you whether the $750,000 cap for newer loans or the older $1,000,000 grandfathered cap applies to you.
Box 4Refund of overpaid interest
Box 4 shows any interest the lender refunded or credited to you this year that relates to a prior year, such as an adjustment on an adjustable-rate loan. It's money coming back, not additional interest paid.
WatchA refund here can mean you have to report income or trim a deduction you already took. Don't treat it as extra interest you can deduct again.
Box 5Mortgage insurance premiums
Box 5 reports mortgage insurance premiums of $600 or more the lender received, covering private mortgage insurance and FHA, VA, or USDA charges. The lender fills it in whether or not the amount is deductible for you.
WatchFor the 2025 tax year, mortgage insurance premiums aren't deductible. The 2025 law restored the deduction starting with 2026, treated as mortgage interest and phasing out once your AGI passes $100,000.
Box 6Points paid on purchase
Box 6 shows points, sometimes called loan origination fees or discount points, that you paid to get the loan on the purchase of your main home. Points are a form of prepaid interest.
WatchPoints on a home purchase are often fully deductible the year you paid them if you meet the IRS tests. Points on a refinance usually have to be spread out over the life of the loan.
Boxes 7 to 11Property and other details
Box 7 marks whether the property address is the same as yours, Box 8 describes the property, Box 9 counts multiple properties securing one loan, Box 10 holds other items, and Box 11 shows the acquisition date if the lender bought the loan this year.
WatchBox 10 often lists real estate taxes paid from escrow, but that amount has its own SALT deduction rules and isn't part of your mortgage interest deduction.
Tap a box above to read about it.
What it is
What Form 1098 does
In plain terms
Form 1098, the Mortgage Interest Statement, is the IRS form a lender uses to report the mortgage interest it received from you during the year. If you paid $600 or more, the lender sends you a copy and files one with the IRS. You don't file it yourself. Instead, if you itemize, you use the Box 1 interest and any Box 6 points to claim the mortgage interest deduction on Schedule A. It's a different form from the 1098-E for student loan interest, the 1098-T for tuition, and the 1098-C for donated vehicles.
The boxes
What each box reports
Form 1098 has eleven numbered boxes plus the lender and borrower details. Here's what each one is telling you.
Box
What it reports
What it means for you
Box 1
Mortgage interest received
Your starting figure for the Schedule A deduction
Box 2
Outstanding principal on January 1
Feeds the $750,000 average-balance limit
Box 3
Mortgage origination date
Sets which cap applies, $750,000 or $1,000,000
Box 4
Refund of overpaid interest
May be taxable or reduce a prior deduction
Box 5
Mortgage insurance premiums
Not deductible for 2025, returns for 2026
Box 6
Points paid on purchase
Often deductible now on a home purchase
Box 7
Address same as borrower
A checkbox, not a dollar amount
Box 8
Property address or description
Identifies the property securing the loan
Box 9
Number of properties
Shown when one loan covers several properties
Box 10
Other
Often real estate taxes from escrow, separate rules
Box 11
Mortgage acquisition date
Shown if the lender bought the loan this year
Swipe sideways for the full table →
The recipient and payer areas at the top carry the lender and borrower names, addresses, and TINs. IRS Publication 936 has the deduction worksheets, and the Form 1098 instructions cover each box in detail.
Deduction estimator
Estimate your mortgage interest deduction
See roughly how much of your interest is deductible under the $750,000 limit and what it could save you at your tax rate. Enter your average balance, your rate, and your bracket.
Assumes acquisition debt on a main or second home. A planning estimate, not tax advice.
Deductible interest and savings
Annual mortgage interest$32,500.00
Deductible portion$32,500.00
Within the $750,000 limit, so all of it counts
Estimated tax savings at 22%$7,150.00
The deduction only helps if you itemize and your total itemized deductions beat the standard deduction. A balance over $750,000, or $1,000,000 for older grandfathered debt, deducts only the portion up to the limit. Confirm with the IRS or a tax pro.
New for 2025
What changed
Mortgage rules that changed for 2025
The 2025 law, the One Big Beautiful Bill Act (P.L. 119-21), locked in the mortgage interest limit and brought a deduction back. The form itself didn't change, but what you can deduct did. Confirm current details before you file.
$750,000 cap made permanent
The $750,000 limit on home acquisition debt, or $1,000,000 for loans predating December 16, 2017, was set to expire after 2025. The 2025 law made it permanent, so the cap on deductible interest isn't going away.
Insurance premiums return in 2026
The deduction for mortgage insurance premiums, gone since 2021, comes back starting with the 2026 tax year, treated as mortgage interest. It phases out once your AGI passes $100,000. It still doesn't apply to your 2025 return.
Home-equity rule locked in
Interest on a home equity loan or line of credit is deductible only when the money is used to buy, build, or substantially improve the home that secures it. The 2025 law made that limit permanent too.
Avoid these
Common Form 1098 mistakes
The errors that most often trip up homeowners at the mortgage interest deduction, and how to steer clear.
Assuming all of it counts
If your average balance is over $750,000, or $1,000,000 on older grandfathered debt, only the interest on the portion up to the limit is deductible, not the full Box 1 figure.
Deducting Box 5 for 2025
Mortgage insurance premiums in Box 5 aren't deductible on a 2025 return. The deduction comes back for 2026, so save the number, but don't claim it this year.
Forgetting you must itemize
You can only deduct mortgage interest if you itemize on Schedule A. If your standard deduction is larger than your total itemized deductions, the 1098 won't lower your tax.
Deducting the wrong HELOC interest
Interest on a home equity loan counts only if you used the money to buy, build, or improve the home. Using it to pay off other debt makes that interest nondeductible.
Treating Box 10 as interest
Box 10 often shows real estate taxes paid from escrow. Those follow the SALT deduction rules and its cap, and they aren't part of your mortgage interest deduction.
Deducting refinance points at once
Points on a refinance usually have to be spread out and deducted a little each year over the loan term. Only points on a home purchase are often deductible up front.
Step by step
How to complete Form 1098
Four moves take a lender from the loan file to a filed statement.
1
Gather the details
Pull the borrower's name, address, and TIN, the total interest received during the year, and the property information. Note any points, insurance premiums, or refunds too.
Gather
2
Fill in the boxes
Enter the Box 1 interest, then the principal, origination date, and any Box 4 refund, Box 5 insurance, or Box 6 points, and complete the property boxes 7 through 11.
Fill
3
Furnish the borrower copy
Send Copy B to the payer of record by January 31 so they have it in time for their return. For the 2025 tax year, that date is February 2, 2026.
Furnish
4
File with the IRS
File Copy A by February 28 on paper or March 31 electronically. File a separate 1098 for each mortgage, and e-file if you have 10 or more information returns in all.
File
Filing
How and when to file Form 1098
Lenders file 1098 as an information return, so it follows the January and spring information-return calendar.
1
Furnish the borrower copy by January 31
Copy B goes to each payer of record by January 31. For the 2025 tax year the deadline shifts to February 2, 2026 because January 31 falls on a weekend.
2
File Copy A with the IRS
File on paper by February 28 or electronically by March 31. Prepare a separate Form 1098 for each mortgage on which you received $600 or more of interest.
3
E-file at 10 or more returns
If you're filing 10 or more information returns of any type combined for the year, you have to file electronically, through the IRS IRIS or FIRE systems.
4
Keep your records
Hold onto the loan records and the amounts you reported. If you're the homeowner, keep the 1098 with your tax file whether or not you end up itemizing.
Need a different tax form?
Form 1098 supports the mortgage interest deduction you claim on Schedule A of your 1040. Browse the full library, or jump to the 1040 family it feeds into.
Quick answers to what homeowners and lenders ask most about the Mortgage Interest Statement.
Form 1098, the Mortgage Interest Statement, is the form your lender uses to report the mortgage interest you paid during the year. If you paid $600 or more in interest on a mortgage, your lender sends a copy to you and files one with the IRS. You use it to figure your mortgage interest deduction if you itemize on Schedule A.
Any trade or business that receives $600 or more of mortgage interest from an individual during the year has to file, including banks, credit unions, and some governmental units and cooperative housing corporations. If you're a homeowner, you don't file it yourself. Your lender files it and sends you a copy.
The lender only has to file Form 1098 if it received $600 or more of interest from you on a single mortgage during the year. The threshold applies per mortgage, so a lender isn't required to file if you paid less than $600 on a given loan. Lenders can still file voluntarily for smaller amounts.
Keep it with your tax records. If you itemize deductions on Schedule A, you'll use the Box 1 interest and possibly the Box 6 points to claim the mortgage interest deduction. If you take the standard deduction, you won't use the 1098, but hold onto it anyway.
Not always. You can deduct interest on up to $750,000 of home acquisition debt, or $375,000 if married filing separately, for loans taken out after December 15, 2017. Older loans are grandfathered at $1,000,000. If your balance is higher, only part of the interest is deductible, and you have to itemize to claim any of it.
Not on your 2025 return. The deduction for mortgage insurance premiums lapsed after 2021 and didn't apply for 2022 through 2025. The One Big Beautiful Bill Act brought it back starting with the 2026 tax year, treated as qualified residence interest, with the deduction phasing out once your AGI passes $100,000, or $50,000 if married filing separately. So premiums you pay in 2026 can count on the return you file in 2027.
Points are charges you paid to get the loan, shown in Box 6 when they're paid on the purchase of your main home. Points on a home purchase are often deductible in full the year you paid them if you meet the IRS tests. Points on a refinance usually have to be spread out and deducted a little each year over the life of the loan.
Box 2 shows the outstanding principal on your mortgage as of January 1. It matters because the $750,000 limit is based on your average loan balance, so a bigger balance can mean only part of your interest is deductible. Box 3 shows when the mortgage started, which helps decide which limit applies.
You can, as long as the interest is deductible and you can back it up with records. Lenders aren't required to send a 1098 for less than $600, and interest paid to a private party, like a seller-financed loan, often isn't reported on one. Keep your payment records, and report seller-financed interest with the seller's name, address, and TIN.
Only if you used the money to buy, build, or substantially improve the home that secures the loan, and only within the same overall debt limits. Interest on a home equity loan you used for other things, like paying off credit cards, isn't deductible. This rule is now permanent under the 2025 law.
They're separate forms for separate things. Form 1098 reports mortgage interest. Form 1098-E reports student loan interest, Form 1098-T reports college tuition, and Form 1098-C reports donations of cars, boats, and planes. Getting one doesn't mean you'll get the others.
Lenders have to furnish the borrower copy by January 31, which for the 2025 tax year lands on February 2, 2026 because of the weekend. The IRS copy is due by February 28 on paper or March 31 when filed electronically. As a homeowner, you'll usually have your 1098 in hand by early February.
You don't have to, but you can. Filing for interest under $600 is optional. If you choose to file, you follow the same rules and box instructions as any other 1098.
The lender only prepares a 1098 for the payer of record, and only if that payer is an individual. If two people are on the loan, the lender reports the total interest to the payer of record. Co-borrowers who actually paid interest can still deduct their share, but they'll need their own records to support it.
If you can show you paid more deductible interest than Box 1 reports, you can deduct the correct amount and attach a statement explaining the difference. This comes up with things like interest paid at closing that the lender didn't include. Keep documentation in case the IRS asks.
Official references
Straight from the IRS
The rules, limits, and 2025 to 2026 changes on this page come from the official IRS sources below. Verify anything at the source before you file.
This page is educational and doesn't provide legal, tax, or financial advice, and isn't affiliated with the IRS. Tax rules, limits, and dates change, and your deduction depends on your own facts, so confirm current requirements against the official IRS pages above or a qualified tax professional before filing. Every Form 1098 should reflect true, accurate figures.
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Build your Form 1098 and get started
Enter the lender, the borrower, and the interest paid, then preview a completed statement on the current form. Review the boxes, download, furnish the borrower copy, and file with the IRS.
