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 is a production trained document skill, which includes all main data fields in this document type and has been trained by ABBYY to deliver high quality of data extraction.

Using human-in-the-loop verification the model can be further trained and enhanced based on incoming documents to achive even higher straight through processing rates over time.

• Vantage document skills are extraction models, based on ABBYY's purpose-built AI, designed and trained to extract key data from business documents.
• The model automatically detects key fields on Form 1098 documents and extracts relevant data (fiscal year, recipient's and payer's TIN, payer's name, mortgage origination date, mortgage interest received, outstanding mortgage principal etc.). For a full list of extracted fields, please see the skill documentation.
• Includes validation and data normalization rules. Further business rules can be added as required.
• Can be augmented by human-in-the-loop review and verification based on accuracy thresholds, missing or incorrect information.