- If you sold a home and paid off the mortgage and purchased a new mortgage Box 2 for the mortgage you sold should have the balance as of 1/1/2021 in Box 2 and the loan date in Box 3.
This doesn't seem to be correct imo. Let's say you have 2 loans
Old one: principal 750k interest 10k (close in July)
New one (open in July) principal 1.5M, interest 20k
I believe the correct math here should be 10k + 20k * 750k/1.5m = 20k
but if you type 0 for box 2 you will end up getting 30k deductible interest which I don't know if IRS would like to see that
