"Let's get some details about this loan"I refinanced in 2021. It's asking me about this years 1098 and if its a refi, a HELOC or none of the above?

Forum|Forum|2 months ago
April 16, 2026
1 reply
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I'd assume the 2021 1098 would be "this loan is a refinance" as that was the year of the refi, but now it would just be "this loan is neither of these" correct? Very grey area lol.

TurboTax Online

Vanessa A

Level 15

If you refinanced in 2021, it will forever be a refinance. The reason this is important is because you can only deduct the interest on the portion of the loan that was used to buy, build or substantially improve the home in which it secures. So if you refinanced it, and you took cash out for anything other than a major renovation or improvement to the home, the interest on that portion of the loan would not be deductible.

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