Form 1098 Principal Balance is too high

[wtech_josh]

A lot of people look at the principal reported on form 1098 and believe there is an error. This is the principal balance at the beginning of the day at the beginning of the calendar year in question. So the 1098 form for tax year 2019 has the principal balance of the loan at the beginning of 2019, not at the end. Refer to https://www.irs.gov/instructions/i1098 if you want to verify that the balance should be reported as ov the beginning of the year, and not the end.