IRS Form 1098, Mortgage Interest Statement, is used by a lender to report mortgage interest and points of $600 or more.
What It Means
Mortgage interest is the amount of interest payments that the borrower pays in a year on a loan secured by real estate. The lender furnishes Form 1098 to the borrower and the IRS. It prepares three copies of Form 1098: Form A, Form B, and Form C. Form A is provided to the IRS, Form B is provided to the borrower, and Form C is retained by the lender for its records.