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Refinance Question

Forum|Forum|3 years ago
March 29, 2023
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I refinanced my home in April 2022. So I had 2 loans in 2022 (both were refinance). In TurboTax, as I put in the information of the loan that I had for 3 months (paid off in April when I refinanced with a different lender), it asks what the balance is on my mortgage loan on December 31, 2022. Do I enter the balance of the loan that was paid off in April, or the balance of the new loan?

thanks

Best answer by DMarkM1

You will enter the payoff amount and date of the payoff. This provides an ending balance for that first loan in order to calculate an average balance.

DMarkM1Answer

You will enter the payoff amount and date of the payoff. This provides an ending balance for that first loan in order to calculate an average balance.

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