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Does the outstanding mortgage principal affect how much you get back?
i had sold and bought a house and on one 1098 is said 0.00 so that is what i entered, now i received the other which says 149,641
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June 6, 2019
7:47 AM
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Deductions & credits
Was there something more I could have done? I noticed you voted down my answer, even though I answered your question. Mortgage principal makes no difference in the amount of your refund. It is on the form for information only.
June 6, 2019
7:47 AM
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Deductions & credits
No it does not. For income Tax purposes only mortgage interest and real estate taxes are deductible. I would keep for your records
June 6, 2019
7:47 AM