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jenna-searby
New Member

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?

 
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HelenaC
New Member

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?

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:

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rudager-phx
New Member

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?

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

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?

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:

View solution in original post

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