jwheel29910
Returning Member

Mortgage Principal Increases Tax Owed

When I input property taxes paid for 2023 the tax owed gets reduced.  On the next line when it asks outstanding principle balance and a value is input, my owed tax goes up.  This is not a refinance, this is not a HELOC - it's on Form 1098 from my lender.  There is only 1 mortgage, that's it.

 

Why is this occurring?  What impact does the outstanding principal entry have on my tax owed going up?