jeffdginn
New Member

I've got a HELOC and receive a form 1098. I used this for a business. Can I enter this amount in the interest section for the K-1 form or do I have to enter in the 1098

 

Education

If you took a HELOC on your personal residence then the interest goes on the Sch A no matter what you used the proceeds for. 

If the corporation owned the home then that is a business deduction.