U.S. · Tax forms
Form 1098 box 5 Mortgage insurance premiums.
Which premiums count, why the $600 test is per mortgage, and how prepaid premiums are timed.
Box 5 reports total qualified mortgage insurance premiums of $600 or more paid for the year on a given mortgage, including prepaid premiums. The $600 test is applied mortgage by mortgage, so smaller premiums on two mortgages are not added together.
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Result
Box 5 rules
| Rule | Short name | What the IRS instructions say |
|---|---|---|
| Amount | $600 threshold | Enter total premiums of $600 or more paid (received) for the tax year, including prepaid premiums, for qualified mortgage insurance. |
| Which insurance | Qualified mortgage insurance | Insurance under a contract issued after December 31, 2006, provided by the Department of Veterans Affairs, the Federal Housing Administration or the Rural Housing Service (or successors), and private mortgage insurance as defined by section 2 of the Homeowners Protection Act of 1998 (as in effect on December 20, 2006). |
| Counting | Per mortgage | Determined mortgage by mortgage. Premiums on all of an individual’s mortgages are not aggregated to reach $600. |
| Prepaid premiums | Timing | Except for amounts paid to the VA or the Rural Housing Service, payments allocable to periods after 2007 are treated as paid in the periods to which they are allocable. |
What is and is not in box 5
Only premiums on "qualified mortgage insurance" count. That means insurance on a contract issued after December 31, 2006 from the VA, FHA, Rural Housing Service or successors, or private mortgage insurance as the instructions define it. A lender does not report premiums under $600 on a mortgage, even if the total across a borrower’s mortgages is $600 or more.
Prepaid premiums
The Treasury has issued regulations for allocating prepaid qualified mortgage insurance premiums. Regulations section 1.163-11 applies to prepaid premiums paid or accrued on or after January 1, 2011, provided by the FHA or private mortgage insurers. The instructions send filers to those regulations; this page does not restate them.
Worked example
Elena has two mortgages. She paid $450 of qualifying mortgage insurance premiums on the first and $400 on the second, so $850 in total. Because the test is per mortgage, neither Form 1098 shows an amount in box 5. A neighbour paid $720 on a single loan: that loan’s Form 1098 shows $720 in box 5. Names and amounts are made up.
More from this set
Related pages: 1098 Box 10, 1098 Box 2, 1098 Box 6, 1098 Box 4. The 1099-R box 7 lookup and W-2 box 12 lookup cover the same kind of question for those forms.
Sources
- Instructions for Form 1098 (Mortgage Interest Statement) (page header shows Rev. 12/2026; it says to use the April 2025 revision of Form 1098 for 2026 information): Prepaid Mortgage Insurance and box 5 (Mortgage Insurance Premiums). Read November 2, 2026.
IRS instructions as read on the date above; thresholds and revisions change. Names and amounts in worked examples are made up.
Frequently asked questions
What is box 5 on Form 1098?
The total qualified mortgage insurance premiums of $600 or more paid for the tax year on that mortgage, including prepaid premiums.
Why is my box 5 empty when I paid mortgage insurance?
The premiums may be under $600 on that mortgage, or the insurance may not be qualified mortgage insurance, such as a contract issued before 2007.
Are premiums on two mortgages added together?
No. The instructions say the $600 test is applied mortgage by mortgage and not aggregated.
Which mortgage insurance is qualified?
Insurance on a contract issued after December 31, 2006 from the VA, FHA or Rural Housing Service (or successors), and private mortgage insurance as defined in the Homeowners Protection Act of 1998.
How are prepaid premiums handled?
Payments allocable to periods after 2007 are generally treated as paid in the periods to which they are allocable, except for amounts paid to the VA or Rural Housing Service.
Not tax advice
This page summarizes IRS instructions, which are written mostly for the people who file the form, and is not tax, legal or financial advice. The payer, a CPA or an enrolled agent can confirm what a box means for your return. Everything runs in your browser; nothing you enter is sent anywhere.