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Deductions & credits
That seems to work for a home loan, but does it work for a HELOC? I did not receive a 1098 because my interest payments were below the threshold required for a 1098. At the "Home loan deduction summary", after clicking "Add a Lender" and entering the bank's name, there seems to be no option in TurboTax for a bank-financed loan without a 1098. My starting balance at the beginning of the year was $0. My ending balance was $0. (I paid off the full amount during the year.) The HELOC is still open. Yet when I enter $0 for the outstanding mortgage principal, TurboTax states "Outstanding mortgage principal must have a value." Am I missing something? Or in the wrong area for a HELOC?
May 9, 2021
5:39 PM