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Get your taxes done using TurboTax
for a home equity loan, you need form 1099 from your mortgage servicer..... W-2 is for wages and wages only
call you servicer.
if you are taking the standard deduction, the home equity interest statement is not needed
if the money withdrawn from the home equity line of credit was not used to improve or extend the life of your personal residence, or used to paydown the original aquisisiton debt (which is quite unlikely), it is not deductible interest on Schedule A in any event.
‎August 25, 2023
9:35 AM