DawnC
Expert Alumni

After you file

No, if correcting the outstanding principal balance does not change your refund or tax-due amounts, you do not need to amend your tax return.   TurboTax asks for that amount in Box 2 because the amount of mortgage interest you can deduct is limited.   But if your outstanding mortgage balances are not more than $750K, the average mortgage balance calculation is not used.   It sounds as if you already started amending to repair the numbers - and already know that correcting the box 2 amount does change your tax position.   

 

Do I really need to amend my return?

 

Mortgage Interest Deduction Limitations

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