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lsklp
New Member

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

2 Replies
kerriP
Level 1

Does the outstanding mortgage principal affect how much you get back?

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.

kerriP
Level 1

Does the outstanding mortgage principal affect how much you get back?

No it does not.  For income Tax purposes only mortgage interest and real estate taxes are deductible.  I would keep for your records

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