In 2016 I refinanced and obtained a separate HELOC. I used the HELOC 8/2018. What to do if my 1098 shows interested paid, but no starting balance on 1/1/2018?

[djmatt_20]

The HELOC mortgage origination date is the same as the refinance date.  I received a separate 1098 for the HELOC.  How do I record the outstanding balance on 1/1/2018 if it is 0.  First time use of this HELOC is mid year 2018.

[StacyC · Accepted solution]

Yes, you are correct the 1/1/18 balance should be entered as $0.