turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Mortgage Interest for a HELOC, “Outstanding Mortgage Principal Must have a value” when entering the Mortgate Interest Amount from the 1098. Principal is $0 as of 1/1/18.

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

Mortgage Interest for a HELOC, “Outstanding Mortgage Principal Must have a value” when entering the Mortgate Interest Amount from the 1098. Principal is $0 as of 1/1/18.

I just found the same question answered with:

Enter $1. It is inconsequential for tax purposes and will give you a value to move forward in the program.


Thank you!

View solution in original post

2 Replies

Mortgage Interest for a HELOC, “Outstanding Mortgage Principal Must have a value” when entering the Mortgate Interest Amount from the 1098. Principal is $0 as of 1/1/18.

I just found the same question answered with:

Enter $1. It is inconsequential for tax purposes and will give you a value to move forward in the program.


Thank you!

KrisD
Intuit Alumni

Mortgage Interest for a HELOC, “Outstanding Mortgage Principal Must have a value” when entering the Mortgate Interest Amount from the 1098. Principal is $0 as of 1/1/18.

If you select "Yes" to "Is this loan a home equity line of credit or a loan you've ever refinanced?" you should be able to move forward with that entry left blank. 

Please enter the original loan's 1098 first and select "Yes" to "Was this loan paid off or refinanced with a different lender in 2018?"

Next, enter the 1098 for the HELOC. 

Entering $1 would most likely be inconsequential, but it shouldn't be necessary. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies