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How to get 1098 Form: What You Should Know
The 1068 is the form that you need if you: received interest-only payments as a student Pay your bills and pay your tax obligations and payments You'll usually receive these 1098 forms when you get that first payment or when you file your taxes. You'll have to fill out this 1098 on time to avoid penalties, interest charges, and other tax consequences. How Do I Get Your 1098-E? What Is a 1098-E? This is the form that you need if you want to determine if your taxable interest is exempt as income or as other income (like capital gain). Is My 1098-E Filing Form Still Valid? If the information on your 1098-E was correct and correct at the time it was filed, then it may still be the same: it may be good for a different amount of time than it was filed! That's just a fact of life, but it really shouldn't delay you from filing. It will be good for three years from the date it was filed. The good news is that you can use it every year while you file. How Do I Get Copies of My 1098-E and 1098? If you're not interested in doing a new 1098, you can get a new copy of your 1098-E by calling your lender's customer service number. The following information will show you what questions they ask for these forms, and what they will want you to answer prior to printing them out. What if My First 1098-E Didn't Meet All the Requirements? If your interest-only payment was more than the required minimum of 5,000, you will need to ask your own lender for the 1098 with additional information and documents. You may require additional verification that your income meets the IRS' tests. You may also need to provide a certification letter. What Does a 1098-E Mean? A 1098-E is a report that states your interest-only payments and the basis for those payments. If your income is correct, it should state the amount of interest-only payments received. It is the record that you have been filing when you could have just filed a 1040. You will need to use this record to help determine whether you have capital gains (income not used for a specific purpose) to report on your tax return. You should also keep records of everything you paid or received from October 1 onward.
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