Solved
Mortgage taken out in March of 2017, but Turbo Tax asks for principal as of Jan 1st 2017. So the correct answer to that question is zero?
Where would I enter the initial principal (as of March)?
The correct answer is "0".
If the program won't accept "0", leave it blank. If the program won't allow you to leave it blank, enter the initial principal balance.
This is a new entry on the Form 1098 and the answer does not affect your taxes. You don't have to report the initial principal balance anywhere on your tax return.
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