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Visitor II

My Form 1098 has the wrong origination date.

My Form 1098 that came from the bank has the wrong mortgage origination date. I believe it should say 2/28/17 but it says 2/28/16. Will this cause a problem? Or just ignore it? The value in box1 is correct.

1 Comment
TurboTax Specialist

My Form 1098 has the wrong origination date.

I do not think that there were any changes between those two dates that would affect your tax return...

 

In "SEC. 2003. MODIFICATION OF MORTGAGE REPORTING REQUIREMENTS" of the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, form 1098s issued after 12/31/2016 would have to add:

 

``(D) the amount of outstanding principal on the mortgage as of the beginning of such calendar year, ``(E) the date of the origination of the mortgage, ``(F) the address (or other description in the case of property without an address) of the property which secures the mortgage..." - however, this is a change for the mortgage company printing the 1098, not you.

 

And in the Tax Cut and Jobs Act of 2017, mortgages signed after December 14, 2017 will be treated differently than those from before, but, again, this should not affect you.

 

So I would go ahead and file your return - and make sure you contact your mortgage company to straighten the date out for next year.