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IRS Release Status: FINAL

Sample Excel Import File:  1098 2020.xlsx 

                                             1098_2line_import_example.xlsx 

What's New for 2020

  • Changes to the Deductibility of Mortgage Insurance Premiums (MIP) - Use Form 1098, Mortgage Interest Statement, to report MIP aggregating $600 or more, that you received during the calendar year in the course of your trade or business from an individual, including a sole proprietor.
  • For tax year 2020, report MIP in box 5 and file and furnish Forms 1098 according to the specifications in the Instructions for Form 1098 and the General Instructions for Certain Information Returns

Import Form Fields:

Field NameSizeType DescriptionNotes
See Form Filer Common FieldsFiler fields common to all form types.
See Recipient Common FieldsRecipient fields common to all form types.

Box 1 Amount

12Amount

Box 1: Mortgage interest received from payer(s)/borrower(s)


Box 2 Amount

12AmountBox 2: Outstanding mortgage principal

Box 3 Date

10Date

Box 3: Mortgage origination date

MM/DD/YYYY or M/D/YYYY
Box 4 Amount12AmountBox 4: Refund of overpaid interest
Box 5 Amount12AmountBox 5: Mortgage insurance premiums
Box 6 Amount12Amount

Box 6: Points paid on purchase of principal residence


Box 7 Checkbox1CheckboxBox 7: Is address of property securing mortgage same as PAYER'S/BORROWER'S address...X / Y / T / 1 = Checked
Box 8 All Lines72, 80 for CSTextBox 8: Address of property securing mortgage (see instructions)First 39 characters used for IRS reporting
Box 9 Number2TextBox 9: Number of properties securing the mortgage
Box 10 All Lines60Text

Box 10: Other

First 39 characters used for IRS reporting
Box 11 Date 10 Date Box 11: Mortgage Acquisition Date MM/DD/YYYY or M/D/YYYY
See Form Common FieldsForm fields common to all form types.

1098 Form:

IRS 1098 Form:  1098 2020 Form

IRS 1098 Instructions:  1098 2020 Instructions


                 


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