rbynaker
Level 14

Not necessary at all.  W-2 and 1099-R info gets transmitted so that stuff IS important.  The 1098 entries are for preparer convenience.

I don't usually bother with them but I do have a few clients with multiple rental properties and it helps me keep my sanity. 🙂  Chase x234 goes to E#1, Suntrust goes to E#2, WF goes to E#3, this other Chase x567 goes to E#4, and BofA goes to Sch A.  Then, inevitably we reach, "but wait, why is there a second WF this year?" and then find out that Chase #2 was refinanced mid-year with Dinky Local Bank and then sold off to WF a month later.

Rick