pk
Level 15
Level 15

Deductions & credits

@robertppoppe , yes , it is possible  but highly unlikely.  The programming is  generally geared to tackle  most common situations and the text of this particular provision in the statute is also written  the same way --- while  it does not disallow, it assumes  the usual scenario of a new or existing mortgage  with a term longer than one year -- the typical being 30 years.  If your case is such that mortgage was started after Jan 1 and was paid off before the end of the same year, you would have to have help Turbo by manipulating numbers by hand --- note that the reason the for the requirement of the Jan 1 and Dec 31st  amounts is to compute the average indebtedness for the year ( TCJA ).

Hope this helps