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Get your taxes done using TurboTax
I must say I'm still confused because according to IRS the box #2 (Outstanding mortgage principal) "... Shows the outstanding principal on the mortgage as of January 1, 2019. …" which I interpret in my own words as "Beginning balance as of January 1, 2019". I already entered the beginning balance (the content of the box #2) in TurboTax (see my 2nd screenshot from top in my first message) but now TurboTax wants me to enter it again? Also I'm not sure how TurboTax endedup specifying 0.00 in my Ending Balance if the form 1098 just doesn't have that field neither I was asked to enter it.
I tried to enter 0 in the field (Beginning Balance) in the "Check This Entry" form but then later I got another validation error and it is not going away:
The cash was never taken our as part of a refinance so I cannot reply "Yes" there but TurboTax doesn't allow me to move further because of validation error there. Should I specify "No Entry" there? If so:
a) What is the difference between "No Entry" and "No"?
b) Why TurtoTax is asking me about it if I already provided all the information from my 1098 form? If the TurboTax doesn't like answer "No" and it explicitly says "Cashout should be blank" - why it asks me to select, I assume, "No Entry" instead of doing it automatically for me?
I'm pretty much stuck with this form. Is it a bug in TurboTax ? It just asks for the information and then displays validation errors which hardly make sense to me.