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posted Feb 28, 2023 3:30:29 PM

How do I enter mortgage interest when no 1098?

Home equity line of credit interest

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2 Replies
Level 15
Feb 28, 2023 3:34:24 PM

Your lender for the HELOC should have provided you a Form 1098.  Contact your lender.

Expert Alumni
Mar 2, 2023 6:04:05 AM

Although your lender is required to provide you with Form 1098 each year, you can report your HELOC interest without one. You should contact the lender first, however, to be sure the form isn't available.

 

If you received a year-end statement from the lender (possibly available on their website), you can use that information to enter your mortgage interest. Or use your own records if they are accurate. Note that this interest is deductible only if the HELOC is secured by a property you own.

 

Follow these instructions:

  1. Open your return and search for "1098, mortgage interest, personal" then click the jump-to link to go to the start of this section.
  2. Enter the Lender’s name in the “Name of Lender” box.
  3. Check the box for “None of the above." under Do any of these situations apply?
  4. Follow the prompts to enter the interest you paid.
  5. Check the box for "Yes, this loan is secured by a property of mine."
  6. Check the box for "This loan is a home equity line of credit (HELOC)."
  7. If you used a portion of these funds for something other than your home, only the portion used for your home is deductible.
  8. Continue back to the Home Loan summary page to save your work.

Additional Info: