2026 Form 1098 Tax Statements

Form 1098 reports mortgage interest, tuition payments, and certain education-related expenses, informing both the IRS and the taxpayer about payments that may qualify for tax deductions or credits.

Yes, including Form 1098 (Mortgage Interest) and Form 1098-T (Tuition Statement).

Form 1098 must be furnished to borrowers by January 31 of the year following the payment year and filed with the IRS by the applicable deadline. If you file 10 or more total information returns (combined), you are generally required to e‑file, meaning the March 31 deadline applies. However, when the due date falls on a weekend or legal holiday, the form due date is moved to the next business day.

Any person engaged in a trade or business who receives from an individual $600 or more of mortgage interest on any one mortgage during the calendar year must file Form 1098. This includes banks, credit unions, mortgage servicers, and real estate developers who provide seller financing.

Form 1098 reports information about certain payments that may be tax‑deductible or used for tax credits, most commonly mortgage interest received (including points), mortgage insurance premiums, refunds of overpaid interest, outstanding mortgage principal, and the mortgage origination date.

No. You are not required to file Form 1098 for interest received from a corporation, partnership, trust, estate, association, or company other than a sole proprietor — even if an individual is a co-borrower.

If you are required to file 10 or more total information returns in a calendar year (combined across all types), including Forms 1042‑S, Forms 1098, 1099, Forms W‑2, etc. and fail to e-file, the IRS treats that as a failure to file a correct information return in the required manner and penalties can apply. A failure to file in the required format (including e‑file when required) is treated the same as filing late, filing incorrectly or not filing at all. Amounts for failure to file can be hundreds of dollars plus late filing fees.

Form 1098‑T (Tuition Statement) must be filed by eligible educational institutions and certain other payers, not by students. Any “eligible educational institution” must file Form 1098‑T for each student who has reportable transactions. This includes colleges and universities, vocational and trade schools, and other accredited postsecondary institutions. To qualify, the school generally must be eligible to participate in U.S. Department of Education student aid programs.

Form 1098‑T reports qualified tuition and related expenses such as required enrollment fees, amount of scholarships, fellowships, or grants processed during the year, adjustments to prior-year tuition amounts, refunds or reductions of previously reported tuition, whether the student was enrolled at least half-time or a graduate student.

An institution (or applicable party) must file Form 1098‑T when a student is enrolled, and there is a reportable transaction, such as payments received for qualified tuition, scholarships or grants processed, refunds or adjustments. Schools generally do not have to file Form 1098‑T for nonresident alien students (unless they request it), students enrolled only in non-credit courses, students whose tuition is fully paid by scholarships or grants, or situations where there are no reportable transactions.