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E-Filing 1098 INTs

As of version 0.46.0 of Lendiom, you can now e-file your Form 1098s. This uses all of the data you have entered into Lendiom, aggregates it into one report, and then e-files it with the government (through a third-party partner of ours). As of 2024, the price per form is $8.00, which includes e-filing and mailing the form to the client via USPS.

Form 1098 Overview​

For more details about what Form 1098 is and when you need to e-file it, please consult the IRS website: https://www.irs.gov/instructions/i1098

Per IRS guidelines, 1098 forms are not required for recipients who have paid less than $600 in mortgage interest. If you'd like to file these forms voluntarily, please contact our support team for assistance.

Reviewing Data​

Before filing the Form 1098s, you will first need to review the information carefully to ensure it is complete and accurate. If any details are missing or incorrect, update them before proceeding.

To do this, navigate to the Reports page. On this page, there is a new tab titled 1098 INTs.

Reports Page Screenshot with red Arrow to 1098 INTs tab

Once you click on that, you will be presented with the Form 1098 Overview.

1098 INT tab overview screenshot

Please take the time to review the information carefully to ensure it is complete and accurate. If any details are missing or incorrect, update them before proceeding. If you do not see a green unlock icon next to a row, you can click on the icon, and it will show you what is missing. The information it may highlight includes:

  • Mailing address missing
  • Address not verified
  • Address not deliverable
  • Tax ID (SSN, ITIN, EIN) missing

Fixing Missing Address​

To fix the missing address, please edit the primary entity on the client and input their mailing address.

Fixing Non-Verified Address​

To resolve this problem, click on the client. Then, on the client page, click on the Actions button and then click on the Verify Address button. If the address can be verified with the USPS, it will show a message stating the address is verified. However, if an address cannot be verified, you will need to communicate with the client to get an accurate and updated address from them.

Resolving Undeliverable Address​

The only way to resolve an undeliverable address is to change the client's address to a completely different address. An address can be marked as undeliverable whenever the USPS does not deliver mail to that specific address. As such, tax forms cannot be delivered. We recommend communicating with the client to get an updated address, then trying again.

Adding Missing Tax ID​

To add the client's tax information, whether a Social Security Number (SSN), Individual Tax Identification Number (ITIN), or Employer Identification Number (EIN), you will need to obtain it from the client (via a Form W-9) and add it to Lendiom.

If you have yet to provide your legal information to Lendiom, we will request it. Please provide all of your legal information, including the legal address registered with the state. This will ensure a smooth process moving forward. All tax identification numbers are encrypted and require a password to decrypt on the UI.

Changing the Address on 1098s​

By default, Lendiom will use the legal address we have on file. If you would like to switch the address to your mailing address, click on the Switch Address to Mailing link under the address listed. You will also have the opportunity to select the address when you click e-file.

E-Filing​

Once you have reviewed all of the data and triple-checked its accuracy, you are ready to e-file via Lendiom. 🎉

To e-file, click the e-file 2024 button. This will bring up a window that states you agree to our Terms of Service and confirm you have verified the accuracy of the information to submit. Once you click the Confirm & E-File button, yet another window will come up.

Final 1098 Submit Modal Screenshot

This final confirmation window requires you to input your password. This enables Lendiom to decrypt all of the tax identification numbers and acts as a security measure to ensure that you are who you say you are.

Additionally, it requires you to select the address you want on the 1098s.

Once you hit submit, it might take a minute or two, depending on how many 1098s you are e-filing.

And that's it! You will have successfully e-filed your 1098s!! 🎉

Features Coming Soon​

A few more features will be coming out before the end of this month:

  • Downloading the filed 1098s
  • Status of the filed 1098s (pending, accepted, rejected, etc.)

Support​

If you run into any problems or have any questions, please reach out to us! support@lendiom.com