Form 1098, Mortgage Interest Statement
The Form 1098, Mortgage Interest Statement is an Internal Revenue Service (IRS) form that is used to report mortgage interest of $600 or more received by you during the year as part of your trade or business from an individual, including a sole proprietor.
The Form 1098, Mortgage Interest Statement skill has been trained on a smaller set of documents. The most important data fields are defined and labeled.
Customers can use this Framework skill as a starting point to label additional required fields, for further training based on incoming documents, or to adjust business rules to their own requirements.
For a full list of extracted fields, please see the skill documentation.
- The trained model automatically detects all fields on 1098 forms and extracts data including Year, Recipient's Name Address Phone, Recipient's TIN, Payer's TIN, Payer's Name, Payer's Street Address, Payer's City State ZIP Code, Account Number, Mortgage Origination Date, etc.
- Business rules can be added as required, for example, to check the year for which the form was submitted, or to set a minimum threshold for income.
- Incorporate human-in-the-loop review and verification based on accuracy thresholds, missing or incorrect information.
- Start with the 1098 framework skill and continue to train on your documents and easily connect into your business processes.