If you paid more than $600 in mortgage interest last year, keep an eye out for a Form 1098 from your mortgage lender in early 2025. A copy of this form will also be sent to the IRS. In most cases ...

"Interest on home equity loans and lines of credit are deductible only if the borrowed funds are used to buy, build, or ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Lea Uradu, J.D. is a Maryland State Registered Tax Preparer, State Certified Notary ...

There are deductions and then there are tax credits ... Internal Revenue Service. “Form 1098: Mortgage Interest Statement.” Consumer Financial Protection Bureau. “What Is Private Mortgage Insurance?” ...

Here’s a look at when you can deduct this interest, when you can’t, and what you’ll need to provide to the IRS in order to claim the home mortgage interest deduction. The simple answer is ...

Your loan servicer issues a 1098-E statement which reports the amount of loan interest paid on a student loan during the year for borrowers in repayment. Some borrowers may be eligible to use this ...

You'll receive Form 1098 reporting the mortgage interest you paid during the year. For more information about the calculation, see IRS Publication 936, Home Mortgage Interest Deduction.