The instructions below explain what the provider was expected to provide. The loan balances are used to determine average mortgage balances to compute the deductibility of mortgage interest.
IRS Form 1098 instructions read as follows:
Box 2. Shows the outstanding principal on the mortgage as of January 1, 2020. If the mortgage originated in 2020, shows the mortgage principal as of the date of origination. If the recipient/lender acquired the loan in 2020, shows the mortgage principal as of the date of acquisition.
Box 3. Shows the date of the mortgage origination.
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