Are HEA home refinance on tax return?

housesun574 — Tue, 03 Feb 2026 12:55:58 GMT

Should I add HEA to home refinance on tax return

Re: Are HEA home refinance on tax return?

KrisD15 — Thu, 06 Feb 2025 01:25:59 GMT

To clarify, what is HEA?

Re: Are HEA home refinance on tax return?

housesun574 — Thu, 06 Feb 2025 15:52:49 GMT

HEA is home equity agreement

Re: Are HEA home refinance on tax return?

housesun574 — Thu, 06 Feb 2025 15:53:40 GMT

Home Equity Agreement is HEA

Re: Are HEA home refinance on tax return?

Vanessa A — Thu, 06 Feb 2025 16:03:23 GMT

Possibly. If you did a home equity loan and used it to buy, build or substantially repair your home, then the interest would be deductible as an itemized expense. If this is the case, then you should have received a 1098-T to enter on your return.

If you did not use the loan to buy, build or substantially repair the home in which the loan is secured by, then NO it is not an itemized deductible expense.

Deducting Mortgage Interest FAQs

Itemized expenses include mortgage interest, gambling losses up to winnings, charitable contributions, state and local taxes up to $10,000, medical expenses in excess of 7.5% of your AGI and casualty and losses in excess of 10% of you AGI with the first $100 not counting towards the loss. Your health insurance and all medical expenses are only deductible for the amount that is over 7.5% of your AGI.

Then your total itemized expenses would need to be greater than your standard deduction below in order to benefit from your expenses.

The 2024 Standard Deductions are as follows:

Married Filing Joint (MFJ) $29,200
Married Filing Separate (MFS) $14,600
Head of Household (HOH) $21,900
Single $14,600

Blind or over 65 and MFJ or MFS add $1,550

Single or HOH if blind or over 65 add $1,950

Standard versus Itemized Deduction

topic Are HEA home refinance on tax return? in Deductions & credits

Are HEA home refinance on tax return?

Re: Are HEA home refinance on tax return?

Re: Are HEA home refinance on tax return?

Re: Are HEA home refinance on tax return?

Re: Are HEA home refinance on tax return?