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frankcanneto
New Member

Is there a difference between mortgage interest and heloc interest?

 
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Accepted Solutions
Tonita
Level 2

Is there a difference between mortgage interest and heloc interest?

There is no difference in regards to reporting interest on your taxes.  To enter your HELOC interest:

  • Go to Federal > Deductions & Credits
  • Scroll down to the Your Home section and click Start next to Mortgage Interest, Refinancing, and Insurance (Form 1098)
  • Answer any preliminary questions, and you'll then be asked for the name of your mortgage company. Enter the name and select Continue.
  • Follow the onscreen instructions to enter the rest of your 1098 info.

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1 Reply
Tonita
Level 2

Is there a difference between mortgage interest and heloc interest?

There is no difference in regards to reporting interest on your taxes.  To enter your HELOC interest:

  • Go to Federal > Deductions & Credits
  • Scroll down to the Your Home section and click Start next to Mortgage Interest, Refinancing, and Insurance (Form 1098)
  • Answer any preliminary questions, and you'll then be asked for the name of your mortgage company. Enter the name and select Continue.
  • Follow the onscreen instructions to enter the rest of your 1098 info.

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