KrisD
Intuit Alumni

Get your taxes done using TurboTax

Yes, that is the issue. Please enter the transferred amount as the beginning balance for the second lender. Enter 0 (zero) as the ending balance for the first lender. 

The IRS has changed the wording for Box 2 from "Balance on Jan. 1" to "Balance on Jan 1 or on the date the loan became active if it originated in the tax year". 

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