Do I need to claim a heloc home equity loan on my tax return?

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Do I need to claim a heloc home equity loan on my tax return?

The interest on the HELOC loan would be entered as an itemized deduction on Schedule A of your tax return. If you are not itemizing deductions and taking the Standard Deduction, then there is no reason to report the interest paid on the HELOC loan.

Do I need to claim a heloc home equity loan on my tax return?

@irishfreak43 there is also no reason to claim the heloc if the money borrowed was NOT used to improve your home.

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Do I need to claim a heloc home equity loan on my tax return?

Do I need to claim a heloc home equity loan on my tax return?

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Do I need to claim a heloc home equity loan on my tax return?

Do I need to claim a heloc home equity loan on my tax return?

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