3084997
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.

betabob
New Member

Loan now showing up as an asset

I have a mortgage that I’ve been tracking in Mint via my Charles Schwab account. Up until 3 days ago the balance of that mortgage was showing up properly, i.e. it was showing up as a debit. However, now the balance is showing up as an asset, i.e. it’s displaying a positive balance instead of negative. I logged in Schwab to see if there was something weird going on on their end, but now…it shows up there properly as a debit. Seems like this is a bug in Mint and/or a bug in whatever service it uses (Yodlee?) to sync with external accounts.

 

Bob

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.

3 Replies

Loan now showing up as an asset

This is a tax law and TurboTax user site. 

Loan now showing up as an asset

mortgages payable are a liability and should be a credit.    on the other hand, if you are the mortgage holder, (you are the mortgagor) then it should be a debit.  so if it's a mortgage payable, then evidently from day 1 it was shown incorrectly since it is a debit (positive balance) which is an asset  

betabob
New Member

Loan now showing up as an asset

You're right. It should (and actually does) show up as a credit on the overview page. However, what is messed up is how Mint is calculating my net worth. My net worth is now displaying a number that is higher than it should by exactly 2x the mortgage balance.

 

I have a separate mortgage account, and the balance of that account is still reflected properly when Mint calculates my net worth.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question