what is a Form 1098 / Mortgage Interest Statement and what am I suppose to do?

Answer 1

You get this in the mail and it tells you how much interest you paid on your house loan. It goes on your taxes because its tax deductible.

Answer 2

If you itemize your deductions on a schedule A instead of taking the standard deduction, you can deduct the amount of mortgage interest you paid. That's the amount your 1098 is showing. If you don't have enough to itemize, you don't need the form

Answer 3

You are suppose to write off the interest on your mortgage on your taxes!!! Yay to being a home owner!