Box 2 should be the amount of outstanding mortgage debt you owe as of December 2019.
This amount should show on the 1098 form your received.
This amount is needed to make sure that you are limited on the amount of interest you can deduct on your tax return.
Since your loan started in 2019, you are limited on the amount of interest you can take on a loan, if the loan exceeds $750,000.
Deducting Mortgage Interest FAQs
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