Early each year, usually in January, your mortgage lender will send you a standardized form, Form 1098 (Mortgage Interest Statement), that will indicate the amount of interest that you paid on your home mortgage during the previous calendar year. If the total of your itemized deductions, including mortgage interest, is greater than the standard deduction for your tax filing status (e.g., single, married filing jointly), your mortgage interest is tax deductible.
If you have not received this information for last year from your mortgage lender, contact the company to request it be sent to you. Contact information can usually be found on your monthly statement.
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