DianeC958
Expert Alumni

Deductions & credits

On the refinanced mortgage Box 2 is asking for the amount of the outstanding balance of the loan as on 01/01/2019.  Since the loan did not start until after that the date the amount in Box 2 for the refinanced mortgage should be $0.  

 

If you put a balance for the loan in Box 2 for the refinanced loan the computer program will impose the limits on how much interest you can deduct on mortgages.

 

Link to Deduction Mortgage Interest

 

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