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ptjoe909
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Can I deduct several years of interest that I paid on my Home Equity Line of Credit that I've never deducted before, now?

I've had a Home Equity line of credit since 2005 and never deducted the interest I paid on it when doing my tax returns,that's 11 years worth of interest that I paid and never claimed.

I already did my tax return for 2017, so can I amend it or add the last 11 years of interest,  over 40,000.00 of interest?

Thanks

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Can I deduct several years of interest that I paid on my Home Equity Line of Credit that I've never deducted before, now?

Unfortunately, per the IRS, you can only amend for a refund for 2014, 2015, and 2016.

See How Do I Amend a Return Already Filed?



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2 Replies

Can I deduct several years of interest that I paid on my Home Equity Line of Credit that I've never deducted before, now?

Unfortunately, per the IRS, you can only amend for a refund for 2014, 2015, and 2016.

See How Do I Amend a Return Already Filed?



Can I deduct several years of interest that I paid on my Home Equity Line of Credit that I've never deducted before, now?

And you need to do an amended return for each year separately.  Be sure to wait until you have your 2017 refund.  Be sure each amended return is mailed in its own envelope.
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