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What is Form 1098?

Q&A Series - TaxAct Blog

Should I itemize or take the standard deduction? - TaxAct Q&A SeriesGet familiar with Form 1098

Form 1098 is a reporting form sent to you by banks, schools and other organizations to whom you have made certain payments during the year.

For example, you receive Form 1098 from your mortgage lender to show how much mortgage interest and property tax you paid during the year.

Organizations also send a copy of Form 1098 to the IRS, so the agency can match amounts.

About Jennifer S.

Jennifer is a tax analyst at TaxAct.