turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

ceejay261
New Member

Why am I being asked what my mortgage balance was January 1, 2018 and January 1, 2019

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
JulieCo
New Member

Why am I being asked what my mortgage balance was January 1, 2018 and January 1, 2019

You are receiving the request for your beginning and ending mortgage principal balance due to the change in tax law related to the mortgage interest deduction.  There are now different mortgage interest deduction limits based upon when the mortgage was originated and what it was used for, so portions of a mortgage listed may include interest that is not deductible.  Therefore, the beginning and ending mortgage balances are needed to determine the deductible portion of the interest being entered.  You can find your ending mortgage balance information on your statements or by checking with your mortgage company.

Here is more information about the tax law and the provisions for now being able to deduct mortgage interest:

 https://ttlc.intuit.com/replies/3300473


message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies