1098

Forum|Forum|5 years ago
February 1, 2021
5 replies
24 views

My 1098 from my bank has a 0.00 in box two for outstanding mortgage. TurboTax does not allow me to enter a 0.00. That is what is on my form, so how do I get around this?

DMarkM1

Level 15

If there was mortgage interest paid for 2020 (an amount in box 1), there had to be a balance on the loan in 2020. You should contact your lender to find the balance on your loan as of 1/1/2020 or if funded/opened in 2020 what was the original amount of the loan?

That amount needs to be in box 2.

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jjschelAuthor

Level 2

This is a HELOC. on Jan 1. 2020 I had a 0 balance. I took an advance during the year and paid interest. Turbotax needs to be fixed to account for this scenario.

Cynthiad66

Level 14

If you know how much the load was, input that amount here. Below is information from IRS.gov

Box 2. Shows the outstanding principal on the mortgage as of January 1, 2020. If the mortgage originated in 2020, shows the mortgage principal as of the date of origination. If the recipient/lender acquired the loan in 2020, shows the mortgage principal as of the date of acquisition.

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