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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
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June 3, 2019
11:47 AM
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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.
June 3, 2019
11:47 AM