New Member

Home Equity Line of Credit question

In 2018, I paid off a HELOC in the amount of $45k using money from a new HELOC I established with a limit of $90k.  I did that because the company that offered the first HELOC no longer offered it and I needed to increase the limit.  So I established a new HELOC with another company.  Later in the year, I borrowed another $6k from the new HELOC.

Turbotax is asking me to enter the amount I borrowed for the new HELOC.  Does it mean to enter the amount I borrowed when I set up the new HELOC ($45k)?  Or does it mean for me to enter the entire amount I borrowed for the year 2018?

This confused me because the next question below this one asks me to enter the "ending mortgage balance", or ending balance of the HELOC.

Level 3

Deductions & credits

For the first question for the amount you borrowed you will enter the amount borrowed when you set up the new HELOC. 

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