turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I have a 1098 for a line of credit that we took out on our rental house. Where to put it? Since it's a LOC does it go with regular mortgage or under the rental section?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
KrisD
Intuit Alumni

I have a 1098 for a line of credit that we took out on our rental house. Where to put it? Since it's a LOC does it go with regular mortgage or under the rental section?

If the line of credit was taken against the rental, it would need to be reported as a rental expense.

Home mortgage (regular mortgage) must be on your main home or second home.

View solution in original post

1 Reply
KrisD
Intuit Alumni

I have a 1098 for a line of credit that we took out on our rental house. Where to put it? Since it's a LOC does it go with regular mortgage or under the rental section?

If the line of credit was taken against the rental, it would need to be reported as a rental expense.

Home mortgage (regular mortgage) must be on your main home or second home.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies