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When Should You File Form 1098-F: Agreement Date or Payment Date?
June 2, 2025
Q. When do you start the 1098-F filing? When the Date of the Order/Agreement is finalized or when payment is made? For example, Date of the Order/Agreement is in CY24, but payment was not made until CY25. When should we issue the 1098-F Filing?
A.
(Answered by IOFM's third-party tax expert)
Per Code Section 6050X and the related regulations, reporting is required when the order or agreement becomes binding, regardless of when the fines are paid. In your fact pattern, it appears that 2024 would…
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