Per IRS instructions Box 2:
- Shows the outstanding principal on the mortgage as of January 1, 2020.
- If the mortgage originated in 2020, shows the mortgage principal as of the date of origination.
- If the recipient/lender acquired the loan in 2020, shows the mortgage principal as of the date of acquisition.
You should contact your lender to confirm the contents of Box 2. This may be used on your taxes if you re-finance, or if you change mortgage companies.
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