Simplify Form 1098 reporting for mortgage interest received from borrowers. With 1099Online, you get bulk import, recipient copy delivery, and secure eFiling in one platform.
IRS Form 1098 (Info Copy Only), also known as the Mortgage Interest Statement, is used to report the mortgage interest you received during the calendar year. This applies when the interest is received from an individual, including a sole proprietor, in the course of your trade or business.
If you run a business and receive $600 or more in mortgage interest from a borrower on a single loan during the year, you need to file Form 1098.
This includes financial institutions, governmental units, cooperative housing corporations, and non-bank lenders, such as real estate developers, that provide buyer financing.
Form 1098 is required only when the mortgage interest is received as part of a trade or business activity, such as lending or financing in the ordinary course of business. If the interest comes from a personal arrangement like seller financing on a home you sold privately, you do not need to file Form 1098.
Form 1098 captures the following for each reportable mortgage:
A separate Form 1098 is required for each mortgage. The $600 threshold applies per mortgage, not per borrower.
The IRS has no major reporting changes announced for Form 1098 this year.
Form 1098 is a continuous-use form, which means the IRS doesn't reissue it annually. The April 2025 revision remains in effect for 2026 reporting and beyond, until a superseding revision is issued.
For 2026 mortgage interest reported in early 2027, the IRS deadlines are:
| Filing Action | 2026 Tax Year Deadline |
|---|---|
| Furnish Copy B to the borrower | February 1, 2027 (January 31 falls on a Sunday) |
| Paper file Copy A with the IRS | March 1, 2027 (February 28 falls on a Sunday) |
| eFile Copy A with the IRS | March 31, 2027 |
If a due date falls on a weekend or federal holiday, the deadline moves to the next business day.
1099Online gives lenders, financial institutions, and other businesses a guided way to file Form 1098, with secure submission to the IRS through the Information Returns Intake System (IRIS).
Step 1: Enter Borrower and Mortgage Information
Sign in, select Form 1098, and add your business and borrower information. Enter data manually or use the Excel bulk import for high-volume filings. Multiple EINs are supported under a single account. Add mortgage interest received, outstanding principal, points paid (if applicable), refund of overpaid interest, mortgage insurance premiums, and the address of the property securing the mortgage.
Step 2: Choose Recipient Copy Delivery
Select how borrowers receive Copy B. 1099Online supports password-protected email delivery and USPS print and mail.
Step 3: Review and Submit
Review the filing summary and submit Form 1098 to the IRS through 1099Online. If any return is rejected, you can reFile at no extra cost.
You must file Form 1098 if you received $600 or more of mortgage interest from an individual borrower on any one mortgage during the year, in the course of your trade or business. The threshold applies per mortgage, not aggregated across multiple loans.
No. Any business that receives reportable mortgage interest must file, including non-bank lenders such as real estate developers who finance buyers in their subdivisions.
Yes. If the mortgage met the $600 threshold during the year, the payoff doesn't remove your filing obligation for that year.
.The IRS charges tiered penalties based on the year the return is due and when the correct return is filed. Penalties apply separately for failing to file with the IRS and for failing to furnish copies to recipients.
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