Solved
Where do I enter outstanding mortgage principal
is outstanding principal deductible
No the principle is not deductible but if you qualify to itemize your deductions, you can deduct the mortgage interest if you meet the requirements.
To
itemize your deductions, you would have to have personal expenses such as
medical and dental expenses, mortgage interest, real estate taxes, unreimbursed
job expenses and certain miscellaneous expenses, and charitable contributions
that when combined together, total more than your standard deduction. For
example if you file single, your standard deduction is $6300 so you would have
to have personal expenses that total more than $6300.
Please refer to the following FAQ to learn more. https://ttlc.intuit.com/replies/3300473
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