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1098 box 10 Form: What You Should Know

Box. 10. Additional information to report is reported on the form. For details, see Publication 560 — Mortgage Interest Statement, which includes more than 200 questions about the mortgage. In addition, for information about how to fill Form 1099 Forms, see Form 1099-MISC, Mortgage Interest Statement — With or Without Information From Other Source, and Form 1099-MISC, Mortgage Interest Statement — With or Without Information From Other Sources. You can also get a form (1095-EZ for a short-term or long-term taxpayer) to assist in preparing Form 1098-EZ. To find forms, see the Filing section. Box 2. What does this box contain? Enter the amount of the interest that was received by the first taxpayer and the value of the property at the time the interest was paid and received by the second taxpayer. Box 4. Type of Interest. Enter the type of interest received. Note: If the interest is being reported at a rate of interest based upon the outstanding balance of the mortgage principal (or equivalent), enter the interest on the interest schedule. For more information about any of the following categories of interest: Tax Rate Interest Payments in Advance Interest Payments on Secured Lines of Credit or Lines of Credit in principle and Interest (Interest on Repayment) Interest Payments in Repayment Of Mortgage Interest Under the Credit Agreement Repaying Principal Payment of The Mortgage Upon Settlement Box 5. Where did this interest come from, and when was it paid? Enter the gross amount of interest received by the second taxpayers. Box 6. Where did this interest go, and when was it paid? Enter the gross amount of interest paid by the second taxpayer by the date a payment was received. Box 7. Date the payment was received. Box 8. Year of first payment. Box 8. Year of each subsequent payment until the most recent payment was received. Box 8. Date interest was paid. Box 9. Date interest was received. Box 10. Where did interest leave the property? Box 10. Where the interest left the property, (i.e., was paid). Box 11. Where did interest take place but return to the property? Box 11. Where did the value of the property change due to the interest? If the property value increases, enter the difference. The interest payment made on this property and change in value was reported on other information on Form 1098. Box 12. Where did the interest leave the property? Box 12.

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