1098 2020

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

Field Name	Size	Type	Description	Notes
See Form Filer Common Fields			Filer fields common to all form types.
See Recipient Common Fields			Recipient fields common to all form types.
Box 1 Amount	12	Amount	Box 1: Mortgage interest received from payer(s)/borrower(s)
Box 2 Amount	12	Amount	Box 2: Outstanding mortgage principal
Box 3 Date	10	Date	Box 3: Mortgage origination date	MM/DD/YYYY or M/D/YYYY
Box 4 Amount	12	Amount	Box 4: Refund of overpaid interest
Box 5 Amount	12	Amount	Box 5: Mortgage insurance premiums
Box 6 Amount	12	Amount	Box 6: Points paid on purchase of principal residence
Box 7 Checkbox	1	Checkbox	Box 7: Is address of property securing mortgage same as PAYER'S/BORROWER'S address...	X / Y / T / 1 = Checked
Box 8 All Lines	72, 80 for CS	Text	Box 8: Address of property securing mortgage (see instructions)	First 39 characters used for IRS reporting
Box 9 Number	2	Text	Box 9: Number of properties securing the mortgage
Box 10 All Lines	60	Text	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 Fields			Form fields common to all form types.

IRS 1098 Form: 1098 2020 Form