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The End-Of-Year Documents You Need to Review & Save

The End-Of-Year Documents You Need to Review & Save

The end of the year brings a lot of joy as you celebrate the holidays, but it also means a lot of year-end financial documents coming into your email inbox or mailbox. It can be a lot to sift through, so here are a few key documents you’ll want to look out for and save as a homeowner.

Your Year-End Mortgage Statement
This financial document is also a key tax document that summarizes the previous 12 months of your mortgage payments, taxes, and interest paid. It’s usually something you include when filing your taxes.

If you’re a Mr. Cooper customer, your year-end statement should arrive via email, usually by January 13. If you haven’t signed up for paperless delivery of your mortgage documents, you can do so here in the Communication Settings section of your account profile. If your mortgage was transferred to Mr. Cooper from another lender, then you may receive your year-end mortgage statement a little later (but it’ll arrive by January 31). You can also visit your account profile online to view all statements, such as monthly statements, tax documents (1098/1099), escrow statements, and other miscellaneous statements like privacy notices. If you need to get a year-end statement from more than 13 months ago, you can call Mr. Cooper.

W2s and 1099s
Homeowner or not, these forms are crucial to collect for 2018. You should automatically receive them via mail or online delivery, depending on your employer. If you’re self-employed, work multiple jobs, have changed jobs in the last year, or freelance, make sure that you account for and save all of the related documents. Employers and partners have until January 31 to get you your tax forms. If your earnings are $600 or less with a specific company, you likely won’t get a 1099 from them.

Energy Efficient Upgrades
If you made any energy-saving improvements as a homeowner in 2018, you might be eligible for a tax credit and you’ll want to make sure to save any related documents, such as invoices paid for labor and receipts for equipment purchased. You might be able to get a credit for 30% of costs for qualified solar items for electricity and water heating, as well as wind energy, inclusive of installation and any costs for adding piping or wiring. Saving receipts for home improvements is generally a good rule of thumb, not only so that you can keep a record of when you did certain things to your home, but also so that you can talk with your accountant or tax professional about what else might be tax deductible as a homeowner.

Curious to learn more about the information in your year-end mortgage statement? Click here to read our Q&A addressing common questions from Mr. Cooper customers.

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