Skip to main content
Level 1
March 22, 2026
Question

Hi - TurboTax is asking me re my 1098 if this load is a HELOC, I am not sure what to answer. This loan was to buy my house.

  • March 22, 2026
  • 1 reply
  • 42 views
No text available

1 reply

MaryK4
Level 15
March 22, 2026

A HELOC is a Home Equity Line of Credit.  If it is just a normal mortgage you would answer No,  If the loan is a HELOC, the deduction are limited unless the funds are used specifically to buy, build, or substantially improve the home that secures the loan.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"