Mortgage 1098 Tax Document FAQ

Mortgage 1098 Tax Document FAQ

Welcome to our Mortgage 1098 Tax Document FAQ page. Find helpful answers to your questions below.

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My Mortgage 1098 is showing an incorrect balance.

Box 2 on your Mortgage 1098 tax document shows your principal balance as of January 1st of the year the tax form is for.

(Example: Mortgage 1098 for 2023 will show your mortgage principal balance at the beginning of 2023)

You can find the explanation of Box 2 on page 2 of your Mortgage 1098 Tax Document.

A photo of a document titled "Sample 1098 Form" with handwritten numbers in box 2

Box 2 definition

Box 2. Shows the outstanding principal on the mortgage as of January 1 of the calendar year. If the mortgage originated in the calendar year, shows the mortgage principal as of the date of origination. If the recipient/lender acquired the loan in the calendar year, shows the mortgage principal as of the date of acquisition.

Sample Mortgage 1098 Tax Document

A close-up photo of a corrected 1st National Bank mortgage1098 tax document, with the focus on the amount due, which is $0.00. The statement also includes the borrower's name (John Doe), the property address, and the loan number.

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