1098 Form - Investment & Finance Definition
A tax statement prepared by a bank, mortgage lender, or the manager of a coop apartment building that shows how much mortgage interest a taxpayer paid during the previous year. Mortgage interest can be deducted from income, which reduces the amount of income taxes that has to be paid. Individuals use Form 1098 to prepare their income tax returns.Webster's New World Finance and Investment Dictionary Copyright © 2010 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.