eTax.com Form 1098 Mortgage Interest Statement

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At tax time, if you have a mortgage loan on your home you should
expect to receive a Form 1098 (Mortgage Interest Statement) from your lender. The Form 1098 reports the amount of interest you paid throughout the year. You are not required to file this form with your taxes, because a copy will automatically be sent to the IRS by the bank. You do need to ensure that the amount you claim in mortgage interest deduction on 1040 Schedule A matches what is stated on the Form 1098.
If you have a loan that is used to purchase, build, or improve a home, you have created Home Acquisition Debt. If you want to deduct full home acquisition debt interest, the total amount of the loan must be less than $1,000,000 on either your primary or secondary home.
Home Equity Debt is obtained through a loan that is not used to build, acquire or significantly upgrade a home. On home equity debt you can only deduct interest on loans up to $100,000.