How to do you claim mortgage interest on home equity loan for the year if the beginning principal for the year was $0

[piratemom66]

I opened a home equity loan in 2016.  I had a zero balance on on the load at 1/1/2018.  However later in that year I took out a loan and paid interest over the year of $1080.  My 1098 shows $0 outstanding principal as of 1/1/2018 because of this.  When I enter 0 into Turbo tax for the outstanding principal of 1/1/2018, Turbo tax flags the beginning principal.  Any suggestion on how to claim the interest for last year?

[TomYoung · Accepted solution]

Set the loan origination date to the date where you actually borrowed the money.  That will clear the error.

Tom Young

[piratemom66]

Do you then enter the amount borrowed?

[TomYoung]

yes