Question
Box 2 for 1098 has changed for 2019 where if the loan originated in 2019, then mortgage principal as of origination date is needed. Turbotax says to leave it empty.
For 2018, Box 2 indeed said if loan was after 1/1/2018 then to leave it empty but for 2019 this has changed. Here is the exact text from the IRS publication. However, Turbotax says to leave it empty and this is causing an increase in State tax returns. Is this a bug ?
"Box 2. Outstanding Mortgage Principal
Enter the amount of outstanding principal on the mortgage
as of January 1, 2019. If you originated the mortgage in
2019, enter the mortgage principal as of the date of
origination. If you acquired the mortgage in 2019, enter
the outstanding mortgage principal as of the date of
acquisition."
"Box 2. Outstanding Mortgage Principal
Enter the amount of outstanding principal on the mortgage
as of January 1, 2019. If you originated the mortgage in
2019, enter the mortgage principal as of the date of
origination. If you acquired the mortgage in 2019, enter
the outstanding mortgage principal as of the date of
acquisition."
