Deductions & credits

@RaifH 

 

OK, an update - I just tried your method from here again, but this time I used the average balances calculated from the interest rate method, into the TT online prompt for "Box 2 - Outstanding mortgage principal".  I came up with the exact same deduction as my independent Excel calculation.  So that's a good sign.  

 

Is there a possible concern that the amounts I'm entering aren't ACTUALLY the "Box 2 - Outstanding mortgage principal", but rather the average annual balances for each mortgage?  Am I going to get audited for mis-entering entries on my 1098?  Or it's fine because the numbers match the instructions from the IRS in the end?