I Did Not Receive a 1098 but I Have Mortgage Interest. How Do I Claim It?
If you did not receive a Form 1098 (Mortgage Interest Statement) but paid mortgage interest during the year, you can still claim the deduction on your tax return. The IRS requires lenders to issue Form 1098 if you paid $600 or more in mortgage interest during the year. However, if you did not receive the form, you can still report the interest you paid as long as you have records to support the amount.
How to Report Mortgage Interest Without a Form 1098
- Use Your Records: Keep documentation such as mortgage statements, bank records, or payment history to verify the amount of interest paid.
- Report on Schedule A: If you are itemizing deductions, report the mortgage interest on line 8b of Schedule A (Form 1040). This line is specifically for home mortgage interest not reported on Form 1098.
- Online Taxes Software Guidance: When using Online Taxes software, navigate to the "Deductions" section, select "Interest You Paid," and choose the option for reporting mortgage interest not shown on Form 1098. The software will guide you through entering the amount.
- Joint Ownership Situations: If you co-own the home with someone else (not your spouse on a joint return) and they received the Form 1098, you must attach a statement to your return showing your share of the interest paid and the name and address of the person who received the form. Deduct your share on Schedule A.
Important Notes
- Only mortgage interest paid on a qualified home (principal residence or second home) is deductible.
- The deduction is subject to income limits and other rules under the Tax Cuts and Jobs Act (TCJA). For 2025, the deduction is generally limited to interest on up to $750,000 of mortgage debt ($375,000 if married filing separately).
- If you paid more interest than shown on Form 1098, you may need to attach an explanation to your return.
Source:
Form 1098 - Mortgage Interest Statement
Publication 936 - Home Mortgage Interest Deduction
IRS Forms, Instructions, and Publications
Disclaimer: Always verify details with official Federal or State Department of Revenue Forms and Instructions before filing your tax return.