- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
First, delete both 1098's. Do NOT try to edit them.
Enter the older loan first, enter box 2 as it is reported,
THERE WILL BE A SCREEN ASKING "WAS THIS LOAN PAID OFF OR SOLD IN 2019?" CLICK "YES"
(this screen will not appear if you go back and edit)
Continue through the interview
Next, enter the second 1098
Select that it WAS a HELC
You will be prompted to report the cash taken out and how much was used for the home and how much was used for other things
TurboTax should make a ratio for claiming the interest.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
ā€ˇFebruary 3, 2020
5:05 PM