We mail most Form 1098s with the January billing statement. Certain loans requiring special handling, HELOCs, and loans on Puerto Rico properties will receive their 1098 or other mortgage interest statement type in a separate mailing. If you are enrolled in paperless delivery, you may be able to get your Form 1098 online through the My Rushmore Loan website or mobile earlier in January otherwise Rushmore is required to mail Form 1098 – by January 31 of each year.
We mail most Form 1098s with the January billing statement. Certain loans requiring special handling, HELOCs, and loans on Puerto Rico properties will receive their 1098 or other mortgage interest statement type in a separate mailing. If you are enrolled in paperless delivery, you may be able to get your Form 1098 online through the My Rushmore Loan website or mobile earlier in January otherwise Rushmore is required to mail Form 1098 – by January 31 of each year.
If you lost your Form 1098 or need an additional copy at a later date, you may access it in the “Year End Statements” tab in the Documents section of the My Rushmore Loan website.
The IRS requires us to report mortgage interest received from the “Payer of Record” on a loan. We report it in the name and Social Security number of the first person listed on the billing statement, who is also known as the primary borrower. Rushmore does not determine how the interest is claimed on your tax return. You should seek assistance from a tax professional to ensure you are claiming the correct amount. Rushmore is not a law firm or tax advisor, and does not provide tax advice.
Rushmore reports interest under the primary mortgagor’s Social Security number. Rushmore does not determine how the interest is claimed on your tax return. Any legal documents you have should reflect who has the right to claim the interest paid. You should seek assistance from a tax professional to ensure you are claiming the correct amount. Rushmore is not a law firm or tax advisor, and does not provide tax advice.
Certain loans requiring special handling — home equity lines of credit and loans on Puerto Rico properties — will receive their 1098 or other mortgage interest statement type in a separate mailing. Rushmore is required to mail the Form 1098 by January 31st of each year.
Not all customers receive Form 1099-INT. If you have an escrow account, depending on the state of your property, the type of account you have, and how much interest was earned, we may provide an interest earned statement. This is IRS Form 1099-INT.
We mail Form 1099-INT separately from January billing statements. Rushmore is required to mail Form 1099-INT by January 31 of each year.
Rushmore’s Tax ID Number is: 26-3416474
If you refinanced your mortgage or if your loan servicing transferred during the year, only the amount of real estate taxes paid by Rushmore will be shown. You can expect a separate statement with any real estate taxes paid by the other servicer. The IRS does not require us to report this information on your Form 1098, but we provide this information for your convenience.
Please be aware that what Rushmore sends you may not be your total information. If your loan transferred to Rushmore or from Rushmore during the year, you should receive year-end tax statements from Rushmore and your other servicer.
Similarly, if you refinanced your loan during the previous year, you will receive one statement for each loan number.
The amount of interest you pay may change from year to year, usually because of a change in your interest rate or in the number of payments we received from you during the calendar year.
The IRS does not require us to report real estate taxes paid by you on Form 1098. To determine if the real estate taxes you paid are deductible, we suggest you contact your tax/financial advisor or the IRS at 1-800-829-1040 or IRS.gov.
Why didn’t I receive a Form 1099-C (Cancellation of Debt) this year when I received one last year?
The IRS only requires us to send you this form when we cancel $600 or more of your principal balance debt in a calendar year.
We’re required to send you this form only when miscellaneous income totals $600 or more during a calendar year.
We can’t provide tax advice. We suggest you contact your tax/financial advisor or the IRS at 1-800-829-1040 or IRS.gov.
We can’t provide tax advice. We suggest you contact your tax/financial advisor or the IRS at 1-800-829-1040 or IRS.gov.