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Get your taxes done using TurboTax
mortgages payable are a liability and should be a credit. on the other hand, if you are the mortgage holder, (you are the mortgagor) then it should be a debit. so if it's a mortgage payable, then evidently from day 1 it was shown incorrectly since it is a debit (positive balance) which is an asset
‎August 25, 2023
5:01 PM