26 U.S. Code § 6050H - Returns relating to mortgage interest received in trade or business from individuals
The term “person” includes any governmental unit (and any agency or instrumentality thereof).
For purposes of this section, except as provided in regulations prescribed by the Secretary, the term “mortgage” means any obligation secured by real property.
Except to the extent provided in regulations prescribed by the Secretary, in the case of interest received by any person on behalf of another person, only the person first receiving such interest shall be required to make the return under subsection (a).
For purposes of subsection (a), an amount received by a cooperative housing corporation from a tenant-stockholder shall be deemed to be interest received on a mortgage in the course of a trade or business engaged in by such corporation, to the extent of the tenant-stockholder’s proportionate share of interest described in section 216(a)(2). Terms used in the preceding sentence shall have the same meanings as when used in section 216.
The Secretary may prescribe, by regulations, that any person who, in the course of a trade or business, receives from any individual premiums for mortgage insurance aggregating $600 or more for any calendar year, shall make a return with respect to each such individual. Such return shall be in such form, shall be made at such time, and shall contain such information as the Secretary may prescribe.
Every person required to make a return under paragraph (1) shall furnish to each individual with respect to whom a return is made a written statement showing such information as the Secretary may prescribe. Such written statement shall be furnished on or before January 31 of the year following the calendar year for which the return under paragraph (1) was required to be made.
Pub. L. 114–41, title II, § 2003, July 31, 2015, 129 Stat. 454, provided that, applicable to returns required to be made, and statements required to be furnished, after Dec. 31, 2016, this section is amended as follows:
(1) in subsection (b)(2), by striking “and” at the end of subparagraph (C), by redesignating subparagraph (D) as subparagraph (G), and by inserting after subparagraph (C) the following new subparagraphs:
“(D) the amount of outstanding principal on the mortgage as of the beginning of such calendar year,
“(E) the date of the origination of the mortgage,
“(F) the address (or other description in the case of property without an address) of the property which secures the mortgage, and”; and
(2) in subsection (d)(2), by striking “subsection (b)(2)(C)” and inserting “subparagraphs (C), (D), (E), and (F) of subsection (b)(2)”.
See 2015 Amendment notes below.
The date of the enactment of this subsection, referred to in subsec. (h)(3)(B)(ii), is the date of enactment of Pub. L. 109–432, which was approved Dec. 20, 2006.
2015—Subsec. (b)(2)(D) to (G). Pub. L. 114–41, § 2003(a), added subpars. (D) to (F) and redesignated former subpar. (D) as (G).
Subsec. (d)(2). Pub. L. 114–41, § 2003(b), substituted “subparagraphs (C), (D), (E), and (F) of subsection (b)(2)” for “subsection (b)(2)(C)”.
2006—Subsec. (h). Pub. L. 109–432 added subsec. (h).
Subsec. (d)(1). Pub. L. 104–168 substituted “name, address, and phone number of the information contact” for “name and address”.
Subsec. (b)(2)(C), (D). Pub. L. 102–239, § 7646(a), added subpar. (C) and redesignated former subpar. (C) as (D).
Subsec. (d)(2). Pub. L. 102–239, § 7646(b)(2), inserted “(other than points)” after “subsection (a)(2)” and “(and the information required under subsection (b)(2)(C))” after “to be furnished”.
1986—Subsec. (d). Pub. L. 99–514, § 1501(c)(11), in amending subsec. (d) generally, substituted “information is required” for “information is furnished” in heading and, in text, substituted references to persons required to make a return for former references to persons making a return and references to persons whose name is required to be set forth for former references to persons whose name is set forth.
Subsec. (g). Pub. L. 99–514, § 1811(a)(1), added subsec. (g).
Amendment by Pub. L. 104–168 applicable to statements required to be furnished after Dec. 31, 1996 (determined without regard to any extension), see section 1201(b) of Pub. L. 104–168, set out as a note under section 6041 of this title.
Amendment by section 1501(c)(11) of Pub. L. 99–514 applicable to returns the due date for which (determined without regard to extensions) is after Dec. 31, 1986, see section 1501(e) of Pub. L. 99–514, set out as an Effective Date note under section 6721 of this title.
Amendment by section 1811(a)(1) of Pub. L. 99–514 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Pub. L. 98–369, div. A, to which such amendment relates, see section 1881 of Pub. L. 99–514, set out as a note under section 48 of this title.
For provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of Pub. L. 99–514 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section 401 of this title.
Written determinations for this section
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