1098 Software : E-File / Print 1098 Forms | Prepare 1098 Mortgage Interest
IRS Form 1098: Mortgage Interest Statement
W2 Mate is a powerful W2 / 1099 preparation software that supports a number of IRS tax forms other than 1098. This page is dedicated to 1098, to read about the full capabilities and features of W2 Mate follow this link .
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Our 1098 Mortgage Interest Software prints the following 1098 (Mortgage Interest Statement) copies:
1098 Copy B (1098 Mortgage Interest Copy B): For Payer / Borrower.
1098 Copy C (1098 Mortgage Interest Copy C): For Recipient / Lender.
All these form 1098 copies can be printed on blank paper with black ink.
Our 1098 Software prints ON the following official IRS laser forms:
Laser Copy A of form 1098 (1098 Mortgage Interest Laser): For Internal Revenue Service Center.
Laser 1096 form : Annual Summary and Transmittal of U.S. Information Returns.
Below is a screenshot of our 1098 Mortgage Interest Statement Software:
Other features of our 1098 Software
Support for an unlimited number of 1098 lenders and unlimited number of borrowers, unlike other 1098 software applications!
Exports 1098 data to Excel worksheet.
Supports the new reporting requirements introduced by the “Surface Transportation and Veterans Health Care Choice Improvement Act”. A summary of these changes includes: The 1098 for is now 2-Up (2 forms per sheet) instead of 3-Up (three forms per sheet); filers must report the address or description of property securing the mortgage, the outstanding mortgage principal, and the mortgage origination date.
Imports data for 1098 (and other tax forms) from CSV files (requires W2 Mate Option #3)
Imports Data (for 1098 and other forms) from QuickBooks, Sage Peachtree, Microsoft Dynamics
(Great Plains), Sage DacEasy and other accounting software.(requires W2 Mate Option #3)
1098 EFile (1098 Electronic Filing) through IRS FIRE (requires W2 Mate Option #4)
Helps filers meet IRS 1098 Mortgage Interest reporting requirements.
Upon entry of basic 1098 borrower information, the program automatically populates 1098 form, with data-entry screens using form replicas.
Our 1098 program, which can be installed on local workstations or networked servers, can be used either by lending institutions & banks preparing IRS 1098 forms in-house or by tax firms managing the 1098 compliance needs of several clients.
Password protection PLUS data validation.
For a detailed description of this IRS 1098 software and its features,
please visit our IRS 1099 Tax software page.
Quick Guide to form 1098 Boxes (all these types of 1098 payments are supported by our 1098 Mortgage Interest software)
Form 1098: Mortgage Interest Statement is the IRS information tax form that banks and mortgage companies are required to issue to report mortgage interest (including points) of $600 or more received from an individual, including a sole proprietor. Also form 1098 is used to report mortgage insurance premiums of $600 or more.
Box 1: Mortgage interest received from payer(s)/borrower(s)
Inside the 1098 screen enter the interest (not including points) received on the mortgage from borrowers during the calendar year. Include interest on a mortgage, a home equity loan, or a line of credit or credit card loan secured by real property. Do not include government subsidy payments, seller payments. Interest includes prepayment penalties and late charges unless the late charges are for a specific mortgage service.
Box 2: Points paid on purchase of principal residence
Enter points paid on the purchase of the payer of record's principal residence.
Box 3: Refund of Overpaid Interest
Navigate to the 1098 screen and then enter the total refund or credit of a prior year(s) overpayment of interest. Please make sure to hit save before you move to a different borrower.
Box 4: Mortgage Insurance Premiums
Enter total premiums of $600 or more paid (received) in the tax year you are reporting for, including prepaid premiums, for qualified mortgage insurance. Qualified mortgage insurance is mortgage insurance under a contract issued after December 31, 2006, and provided by the Department of Veterans Affairs, the Federal Housing Administration, or the Rural Housing Service (or their successor organizations), and private mortgage insurance, as defined by section 2 of the Homeowners Protection Act of 1998 (as in effect on December 20, 2006).
1098 Mortgage Interest Form Who Gets What Copy?
Copy A : For Recipient/Lender to file with IRS.
Copy B : For Payer/Borrower to keep for their files/records.
Copy C : For Recipient/Lender or State Copy.
Ready to print and E-file 1098 IRS Mortgage Interest Statement forms? Download a free demo of our 1098 software now , enter actual borrowers and see for yourself how easy and powerful this software is (make 1098 in minutes).
Where to mail form 1098 (Mortgage Interest Statement)
Once you use our 1098 Mortgage Interest Software to create 1098 forms you can mail them to the address below (please double check the address with the 1098 forms instructions for the current tax year):
Alabama, Arizona, Arkansas, Connecticut, Delaware, Florida, Georgia, Kentucky, Louisiana, Maine, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, Texas, Vermont, Virginia, West Virginia:
Department of the Treasury
Internal Revenue Service Center
Austin, TX 73301
Alaska, California, Colorado, District of Columbia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Maryland, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, North Dakota, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Utah, Washington, Wisconsin, Wyoming:
Department of the Treasury
Internal Revenue Service Center
Kansas City, MO 64999
1098 Form Sample
1098 QuickBooks | 1098 and QuickBooks
Although Intuit QuickBooks only supports 1099-MISC forms, our 1098 software allows QuickBooks users import 1099 data and then map it into 1098 forms with the ability to specify which box the money amount goes to. For example the user can remap QuickBooks 1099-MISC amounts stored under 1099-MISC Box 7 (Nonemployee compensation) into 1098 Box 1 (Mortgage interest received from payer(s)/borrower(s)). Once the QuickBooks data is imported as 1098 data inside our software, the user can modify it, print it to laser 1098 forms, print it on regular white paper or electronically file QuickBooks 1098 with the IRS.
Dynamics GP 1098 | Great Plains Form 1098 | Microsoft Dynamics 1098 Mortgage Interest
Many lending institutions, banks and mortgage companies use Microsoft Dynamics (Great Plains). These educational institutions are required to supply the IRS with the pertinent information for taxpayers that are eligible to take higher education tax benefits. Since Microsoft Dynamics does not support printing and e-filing 1098 forms, our software can import data from Dynamics and then allow the user to print borrower copies on regular white paper, IRS copy A on pre-printed forms and if required generate 1098 electronic filing submission for reporting electronically through IRS FIRE system.