How do I create Form 1098?

Creating Form 1098


  1. Click on the Payer List button.
  2. Double click on the payer name.
  3. Highlight the recipient to add the form to.
  4. Click on the Add Form button.
  5. Choose 1098 from the Form Type drop down menu.
  6. Fill in the necessary fields on the form:
    • Corrected:  Check this box if it applies.
    • Account Number:  A number assigned to recipient by the payer.  This field is optional except for the following cases:
      • The recipient has multiple returns for the same return type.
      • The returns are filed using E-file Center.
    • Mortgage interest received from payer(s)/borrower(s):  Enter the interest(not including points) received on the mortgage from borrowers during the calendar year.
    • Outstanding mortgage principal:  Enter the amount of outstanding principal on the mortgage as of January 1 of the current tax year.  If mortgage was originated in the current tax year, enter the mortgage principal as of the date of origination.
    • Mortgage origination date:  Enter the date of the origination of the mortgage.
    • Refund of overpaid interest:  Reimbursements of overpaid interest aggregating $600 or more.
    • Mortgage insurance premiums:  Enter total premiums of $600 or more paid (received) in the current tax year, including prepaid premiums, for qualified mortgage insurance.
    • Points paid on purchase of principal residence:  Points must be reported if the points, plus other interest on the mortgage, are $600 or more.
    • Check if address of property securing mortgage is the same as payer's/borrower's address:  If the address of the property securing the mortgage is the same as the payer’s/borrower’s mailing address, check this checkbox and leave the address and description of the property blank.
    • Address or description of property securing mortgage:  If the address of the property securing the mortgage is not the same as the payer's/borrower's mailing address or you did not complete box 7, enter the street address (including the apartment number) of the property securing the mortgage.  Immediately below the address, enter the city or town; state or province; country; and ZIP or foreign postal code of the property securing the mortgage.  If the property securing the mortgage has no address, enter the property's jurisdiction and the property's Assessor Parcel Number(s).
    • Number of properties securing the mortgage:  Complete only if more than one property secures the mortgage. Enter the total number of properties secured by the mortgage.
    • Other:  Additional information reported to Payer/Borrower.
    • Mortgage acquisition date: If the recipient/lender acquired the mortgage in the current tax year, enter the date of acquisition.
  7. Click Save. 
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