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June 6, 2019
Question

Does the outstanding mortgage principal affect how much you get back?

  • June 6, 2019
  • 2 replies
  • 0 views

i had sold and bought a house and on one 1098 is said 0.00 so that is what i entered, now i received the other which says 149,641

2 replies

June 6, 2019

Was there something more I could have done?  I noticed you voted down my answer, even though I answered your question.  Mortgage principal makes no difference in the amount of your refund.   It is on the form for information only.

June 6, 2019

No it does not.  For income Tax purposes only mortgage interest and real estate taxes are deductible.  I would keep for your records