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Level 2

Question

mortgage info

Forum|Forum|6 years ago
March 18, 2020
1 reply
0 views

My mother is the lender. I've been doing this on TurboTax for more than 10 years. But this year TT asks: Outstanding Mortgage Principal = ? this is a new question for TT! I don't have a 1098. This was never a problem before. I have the Mortgage origination date. It also asks for "Mortgage acquisition date =?" This is also a new question this year. all of this probably doesn't matter due to tax changes and standard deduction increase but I need to input to continue my tax return.

Level 12

Yes, these are new questions. For the Outstanding Mortgage Principal, enter your mortgage balance as of January 1, 2019. For more information please see IRS Instructions for Form 1098.

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danarelloAuthor

Level 2

By “mortgage balance “ are you referring to the loan balance indicated on my amortization schedule? That is to say “how much I owe as of Jan 1,2019.

Level 15

yes