My 1098 form for a Home Equity Line of Credit shows no balance for 1/1. TT will not let me proceed unless the value I enter in Box 2 is greater than the interest. Why?

I have a long-term home equity line of credit with a limit of $60,000. I had no balance on 1/1/18 and the 1098 form correctly shows no outstanding mortgage principal.

I entered the amount in box 1, and nothing in box 2 and Turbotax will not let me proceed. I changed box 2 to a value of 0 and still cannot go on.

It seems TurboTax REQUIRES a minimum of $1 for Box 2, even though this is not true.

How can I submit a CORRECT form?

425

Intuit Alumni

Jun 1, 2019 12:13:11 PM

You CAN leave box 2 blank if you enter a 2018 origination date in Box 3.

Level 1

Jun 1, 2019 12:13:12 PM

So you are suggesting that, instead of the program being fixed, I need to lie on the form. Interesting. Turbotax specifically asks when the loan was originated, not when the withdrawal from the Home Equity Loan was made. Maybe the problem is in the instructions.

Why sign in to the Community?

My 1098 form for a Home Equity Line of Credit shows no balance for 1/1. TT will not let me proceed unless the value I enter in Box 2 is greater than the interest. Why?