A 1099 Express source record for Form 1098-Mortgage looks like this:
B|3|SSN|Cor|Frgn||CS|Name1|Name2|Addr|City|State|Zip|Acct|Amt1|Amt2|Amt3
Field 1: Capital "B", This is the Record Identifier.
Field 2: Holds the character "3" indicating 1098-Mortgage.
Filed 3: Payer's Social Security Number.
Field 4: Correction Indicator.
Field 5: Set to "1" if payee is Foreign (outside USA).
Field 6: Empty. Before 1999, held Box 4 entry for Other Information.
Field 7: Combined State Code.
Field 8: Payer Name 1 Field.
Field 9: Payer Name 2 Field, usually empty.
Field 10: Payer Address.
Field 11: Payer City.
Field 12: Payer State Code.
Field 13: Payer Zip Code.
Field 14: Account Information. Must be unique to distinguish corrections for duplicate recipients.
Field 15: Amt01-Box 1 Mortgage interest received from payers/borrowers.
Field 16: Amt02-Box 2 Points paid on purchase of principal residence.
Field 17: Amt03-Box 3 Refund (or credit) of overpaid interest.
Field 18: Text Field. Prints as Box 5 for tax years 2014 and before.
May prints as a different box number in tax year 2015 and on. Filer may use this box to print
other information such as the address of the property that secures the dept, real estate taxes, or insurance paid from escrow. This information is not e-Filed to the IRS, but it is printed on all forms.
Maximum length is 38 characters.
Field 19: Amt04-Box 4 Mortgage Insurance Premiums which may qualify to be
deductible. If Tax Year 2014 and before, this field is printed in Box 4
on all forms, and e-Filed to the IRS in Amount Code 4. If Tax Year 2015 and
after, this field, if present, is dropped completely. It is not printed on
any forms and is not e-Filed to the IRS. The IRS has removed this data from the
form beginning in tax year 2015.
Fields 20 thru Field 26, if present, are ignored.
All Fields are normal Ascii strings, without a Ascii Zero trailer. Each record is terminated by a
carriage return, line feed sequence.
History:
Some 1098 forms printed by the IRS in 2012, 2013 and 2014 were changed at the last minute due to new laws enacted by the US Congress. These last minute changes in the law always involved Box 4, Mortgare Insurance Premiums.
December 17, 2014 Congress changed the law to allow allow Box 4, Mortgage Insurance Premiums to
qualify as deductable for tax year 2014. So on January 6, 2015, in Version 2014.45
1099 Express re-instated Box 4 as Mortgage Insurance Premiums.
We also re-instated Box 5 as it was previously.
In 1999 IRS changed Box 4 to an "amount" field. This means
Box 4 can no longer hold comments or Alpha characters such as "Taxes $3,456.88". Box 4 must
now contain NUMERIC DIGITS ONLY since it is an "amount code", not a free format field.
It is the money amount for Mortgage insurance premiums which may qualify to be
deductible. Field 19 is now used to hold Amount Code 4. Field 6 is now ignored.
Export programs must be changed to reflect this IRS change.