https://ttlc.intuit.com/community/taxes/discussion/loan-details/01/3647466#M1347505 <P>Question. ..&nbsp;</P><P>&nbsp;</P><P>I'm doing my sister taxes on TurboTax.&nbsp;</P><P>So I'm not sure what you click here.</P><P>&nbsp;</P><P>My sister has a mortgage loan that was under my parents name. She took over the loan in the middle of last year. When she took over the loan she also got out a home equity line of credit so it went from 60k to 80k. So turbo tax is asking, is the loan&nbsp;</P><P>&nbsp;</P><P>A. This loan is a home equity line credit&nbsp;</P><P>B. This loan is a refinance of a previous loan. ( If I pick this one, I have the question, did you use your loan for anything besides paying off existing loan?)</P><P>C. This loan is neither of these.&nbsp;</P><P>&nbsp;</P><P>So basically she did both she took over the loan under her name and got an equity line of credit.&nbsp;</P> Fri, 11 Apr 2025 21:24:05 GMT Npadilla 2025-04-11T21:24:05Z https://ttlc.intuit.com/community/taxes/discussion/loan-details/01/3647466#M1347505 <P>Question. ..&nbsp;</P><P>&nbsp;</P><P>I'm doing my sister taxes on TurboTax.&nbsp;</P><P>So I'm not sure what you click here.</P><P>&nbsp;</P><P>My sister has a mortgage loan that was under my parents name. She took over the loan in the middle of last year. When she took over the loan she also got out a home equity line of credit so it went from 60k to 80k. So turbo tax is asking, is the loan&nbsp;</P><P>&nbsp;</P><P>A. This loan is a home equity line credit&nbsp;</P><P>B. This loan is a refinance of a previous loan. ( If I pick this one, I have the question, did you use your loan for anything besides paying off existing loan?)</P><P>C. This loan is neither of these.&nbsp;</P><P>&nbsp;</P><P>So basically she did both she took over the loan under her name and got an equity line of credit.&nbsp;</P> Fri, 11 Apr 2025 21:24:05 GMT https://ttlc.intuit.com/community/taxes/discussion/loan-details/01/3647466#M1347505 Npadilla 2025-04-11T21:24:05Z https://ttlc.intuit.com/community/taxes/discussion/re-loan-details/01/3647520#M1347526 <P>I think the answer would be A since she did take out a line of credit but did not pay off the mortgage but just assumed it.&nbsp;</P> Fri, 11 Apr 2025 21:43:41 GMT https://ttlc.intuit.com/community/taxes/discussion/re-loan-details/01/3647520#M1347526 robtm 2025-04-11T21:43:41Z