How will my forbearance impact my year-end 1098 tax statement?

If you're on a forbearance plan, the following may be affected on your 1098 form if any mortgage payments were missed or paid less than the amount due.

  • Mortgage interest
  • Real estate taxes
  • Mortgage insurance paid

If this happens, the amount of mortgage interest received from the borrower (box 1 on the 1098 form) and the amount of mortgage insurance premiums paid (box 5 on the 1098 form) may be different than prior years. 

Since every situation is unique, we encourage you to consult with a trusted tax professional for advice.