FAQs
Why did I receive a Corrected Form 1098?
Receiving a revised tax document can be confusing, but it is actually a fairly common part of tax season! We issue a Corrected Form 1098 if we identify that any of the mortgage interest, mortgage insurance premiums, or property taxes reported on your original form need to be updated to ensure your records are perfectly accurate.
Common reasons for a correction include:
- A recent adjustment or recalculation on your escrow account.
- A delayed property tax payment or a tax refund issued by your local municipality.
- A recent update to your payment history or loan balance.
What should I do with this form?
When preparing your tax return, be sure to use the updated information on the Corrected Form 1098. If you have already filed your taxes using the original form, we highly recommend consulting a certified tax professional or CPA to find out if you need to file an amended return with the IRS.
If you would like to know the specific reason your form was updated, please contact us so our team can review your account details with you.