Solved: Can I deduct the interest paid on a home equity line of credit? I received a form 1098 for a Line of Credit I took out on my home. If I can deduct it, are there any restrictions?
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Can I deduct the interest paid on a home equity line of credit? I received a form 1098 for a Line of Credit I took out on my home. If I can deduct it, are there any restrictions?

 
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Level 15

Can I deduct the interest paid on a home equity line of credit? I received a form 1098 for a Line of Credit I took out on my home. If I can deduct it, are there any restrictions?

You can deduct interest paid on a home equity loan Go to Federal> Deductions and Credits> Your Home to enter home equity loan interest,

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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Level 15

Can I deduct the interest paid on a home equity line of credit? I received a form 1098 for a Line of Credit I took out on my home. If I can deduct it, are there any restrictions?

You can deduct interest paid on a home equity loan Go to Federal> Deductions and Credits> Your Home to enter home equity loan interest,

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

View solution in original post

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