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Level 1

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.

 
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Level 1

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!

2 Replies
Level 1

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!

Level 8

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.