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Deductions & credits
You can enter the correct amount in TurboTax- keep the backup with your records, but your balance wouldn't be zero because it was paid off in November. Note, this matters if you will be subject to the limitation of outstanding mortgages valued at $750,000 or more. If you are under the limit, entering the full balance won't impact your return, and the highest balance during the year is a common method of compliance.
You could use the statements provided by your lender to figure the average mortgage balance in 2024. See: Pub 936 Average Mortgage Balance
March 26, 2025
4:45 PM