I need verification of what appears to be an error in the question text of TurboTax Deluxe (download).
When trying to determine if HELOC interest may be deductable, the following question is asked:
Since you first took out this loan, how much has been spent to buy, improve, or build the home it's secured by?
From my reading of the IRS page the question should have been:
Since you first took out this loan, how much of the original home equity loan proceeds have been spent to buy, improve, or build the home it's secured by?
These are two entirely different questions.
thanks for any clarification,
Fred
