@Matt Romano Any items he paid at closing should be on his settlement statement.
If he was paid wages, but didn't get a W2, would he not report the income? I would have 'not received' my W2s every year if that's how it worked! :-)
If he has legitimate deductions he should claim them whether he has received a 1098 or not. As @Logan Allec pointed out, there are other ways to determine the deductible amounts paid.
The 1098 is for interest payments only, anyway. His insurance and PMI aren’t deductions.
Thanks for the responses guys! Pretty sure the mortgage insurance is deductible though @Wayne Brooks Basically just the mortgage interest and the PMI are deductions. Does that sound right?
@Matt Romano , Yes PMI are deductible.
Also, he can actually call IRS and get his copy of 1098 directly (Wage and Income transcript) from IRS if absolutely needed, It is a very simple process.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.