Do You Have to File a 1098 on Your Taxes?

Form 1098 is an informational document you receive from an institution, not a form you file with your tax return. You use the data it contains to claim certain tax deductions and credits, which can lower your tax liability. Lenders and universities send these forms to both you and the IRS to report amounts you paid for specific expenses during the year. You should keep these forms with your personal tax records but do not submit them when you file your return.

Understanding Your Form 1098

Form 1098, Mortgage Interest Statement

Your mortgage lender sends Form 1098, Mortgage Interest Statement, if you paid $600 or more in mortgage interest during the year. Box 1 shows the total interest you paid, which is used to calculate the home mortgage interest deduction.

Box 6 shows “Points paid on purchase of principal residence,” which are a form of prepaid interest you might have paid to secure a lower interest rate. If you purchased your main home during the tax year, this amount may also be deductible.

Form 1098-E, Student Loan Interest Statement

You will receive Form 1098-E, Student Loan Interest Statement, from your loan servicer if you paid $600 or more in interest on a qualified student loan. Box 1, “Student loan interest received by lender,” shows the total interest you paid during the year, which is used to claim the student loan interest deduction.

The loan must have been taken out solely for qualified higher education expenses. If you have multiple student loans, you may receive a separate Form 1098-E from each servicer you paid at least $600 to.

Form 1098-T, Tuition Statement

Educational institutions issue Form 1098-T, Tuition Statement, for students who paid for qualified tuition and related expenses. Box 1, “Payments received for qualified tuition and related expenses,” shows the total amount of these payments made during the year, which includes fees required for enrollment.

The form also reports scholarships or grants in Box 5, which reduce the amount of expenses you can use to claim a tax benefit. This information is used to determine your eligibility for education-related tax credits.

Using Form 1098 Information on Your Tax Return

For Form 1098 (Mortgage Interest)

To claim the mortgage interest deduction, you must itemize your deductions on Schedule A (Form 1040) instead of taking the standard deduction. You will report the amounts from Box 1 and any eligible points from Box 6. The deduction is limited to interest paid on the first $750,000 of mortgage debt for homes purchased after December 15, 2017.

For Form 1098-E (Student Loan Interest)

You can claim the student loan interest deduction without itemizing, as it is an “above-the-line” adjustment to income reported on Schedule 1 of Form 1040. The deduction is capped at $2,500 per year. For 2025, this amount is reduced for single filers with a modified adjusted gross income (MAGI) between $85,000 and $100,000. For joint filers, the reduction occurs with a MAGI between $170,000 and $200,000.

For Form 1098-T (Tuition)

Data from Form 1098-T is used to claim education credits like the American Opportunity Tax Credit (AOTC) or the Lifetime Learning Credit (LLC). For 2025, these credits have income limitations and begin to phase out for single filers with a MAGI between $80,000 and $90,000. For joint filers, the phase-out range is a MAGI between $160,000 and $180,000.

To claim these credits, you must complete and attach Form 8863 to your tax return. On this form, you will use the qualified expenses from Box 1 and any scholarships from Box 5 of your 1098-T to calculate your credit amount. The form also requires the educational institution’s Employer Identification Number (EIN), which is listed on the 1098-T.

Common Scenarios and Questions

What if I didn’t receive a Form 1098?

If you did not receive a Form 1098, it may be because you paid less than the $600 reporting threshold for that expense. Not receiving a form does not disqualify you from claiming a related deduction or credit if you are otherwise eligible. You can use other evidence of payment, such as bank statements or online account summaries, to substantiate your claim.

What if the information on my Form 1098 is incorrect?

If you find an error on your Form 1098, contact the issuer, such as the lender or school, to request a corrected form. Do not file your tax return using information you know to be incorrect. Doing so could lead to an IRS inquiry or require you to file an amended return.

Do I need to attach Form 1098 to my tax return?

You do not attach Form 1098 to your tax return, as the IRS receives a copy directly from the issuer. However, you must keep all Form 1098 documents with your personal tax records. These forms serve as proof to substantiate the deductions and credits you claim in case of an IRS inquiry or audit.