My loan is a reverse mortgage (HECM) but that is not a choice offered by Turbo tax as an answer? How do i describe it here?
Reverse mortgages are not entered on your tax return.
Reverse mortgage payments aren't taxable. Reverse mortgage payments are considered loan proceeds and not income. ... Interest (including original issue discount) accrued on a reverse mortgage isn't deductible until you actually pay it (usually when you pay off the loan in full).
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