In 2018, I paid off a HELOC in the amount of $45k using money from a new HELOC I established with a limit of $90k. I did that because the company that offered the first HELOC no longer offered it and I needed to increase the limit. So I established a new HELOC with another company. Later in the year, I borrowed another $6k from the new HELOC.
Turbotax is asking me to enter the amount I borrowed for the new HELOC. Does it mean to enter the amount I borrowed when I set up the new HELOC ($45k)? Or does it mean for me to enter the entire amount I borrowed for the year 2018?
This confused me because the next question below this one asks me to enter the "ending mortgage balance", or ending balance of the HELOC.
For the first question for the amount you borrowed you will enter the amount borrowed when you set up the new HELOC.
**Mark the post that answers your question by clicking on "Mark as Best Answer"