We bought our house in May 2018 & the loan has been transferred. When asked what the principal balance of the loan was for each, what do we put in the January 1,2018 box?

[rudager-phx]

For some reason turbo tax will not accept a zero for box 2 of the 1098.

[HelenaC · Accepted solution]

Outstanding mortgage principal as of 1/1/2018 is $0 since the loans did not exist on January 1, 2018.  

• Form 1098 mortgage interest statement, Box 2. Shows the outstanding mortgage principal on the mortgage as of January 1, 2018.

Related information:

• Where do I enter my 1098 mortgage interest statement?