topic Home Equity Line of Credit smart check area TT keeps asking for date loan was paid off in 2020 .. the loan was not paid off it just originated in April 2020 and i've also added the outstanding principal as of 12/31/202 .. how do it get clear for final ck? in Get your taxes done using TurboTax

Home Equity Line of Credit smart check area TT keeps asking for date loan was paid off in 2020 .. the loan was not paid off it just originated in April 2020 and i've also added the outstanding principal as of 12/31/202 .. how do it get clear for final ck?

MKTurner — Wed, 31 Mar 2021 14:33:44 GMT

Re: Home Equity Line of Credit smart check area TT keeps asking for date loan was paid off in 2020 .. the loan was not paid off it just originated in April 2020 and i've also added the outstanding principal as of 12/31/202 .. how do it get clear for final

Critter-3 — Wed, 31 Mar 2021 14:36:03 GMT

I suggest you delete the 1098 entry and start over since you must have clicked the wrong button.

Re: Home Equity Line of Credit smart check area TT keeps asking for date loan was paid off in 2020 .. the loan was not paid off it just originated in April 2020 and i've also added the outstanding principal as of 12/31/202 .. how do it get clear for final

MKTurner — Wed, 31 Mar 2021 15:13:19 GMT

Since TT chose the "standard deduction" for us I read somewhere that in order to deduct this interest on the HELOC i'd have to "itemize" is that correct and if so I'm assuming I should not enter anything for my HELOC?

Re: Home Equity Line of Credit smart check area TT keeps asking for date loan was paid off in 2020 .. the loan was not paid off it just originated in April 2020 and i've also added the outstanding principal as of 12/31/202 .. how do it get clear for final

Critter-3 — Wed, 31 Mar 2021 15:17:31 GMT

If you will not have enough to itemize deductions then you can skip entering in the 1098 form.