As you go through to add the information for your new refinanced mortgage it asks what the loan balance was as of 1/1/2019, since you refinanced the property this amount would be $0.
On the original loan you had previously for the property the amount would be the $600,000.
If you change this on the new mortgage you will not show that you had a loan for $1.2 million.
Link about Mortgage Refinance Tax Deductions.
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