Question

Mortgage payment to lender in 2019 not showing on Form 1098

Forum|Forum|6 years ago
January 24, 2020
1 reply
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I made a mortgage payment on December 27, 2019. This is the date the funds were paid to the mortgage company and received (via wire transfer) - no longer available for my use.

The mortgage company processed and credited my account on January 6, 2020.

My 2019 Form 1098 (mortgage interest) does not show interest and payment for my payment made in 2019.

What does "received" mean for box 1 of Form 1098? I have confirmation funds were received (wire transfer) on December 27, they just did not work on it for 10 calendar days which prejudiced me.

Thanks!

ReginaM

In most cases, you enter the interest amount as it appears on your Form 1098, Mortgage Interest Statement. If it is not correct, put in the correct amount in Box 1 - Mortgage Interest Earned, and check the box that states The interest amount I entered is different than what's on our 1098. You will be asked to give a brief explanation of why the amount is different.

Keep in mind that if your lending institute does not correct your 1098 this year, you will need to adjust next years in the same manner, assuming that they will record your 2019 payment in 2020.

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