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New Member
posted May 31, 2019 11:23:27 PM

Tax Year Prior to 2020: Where do I claim interest paid on a home improvement loan?

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1 Replies
Level 5
May 31, 2019 11:23:28 PM

While inside the software and working on your return, type home equity loan in the Search at the top of the screen (you may see a magnifying glass there).  There will be a popup that says Jump to home equity loan.  Select that to get to the general area. 

Alternatively, you can go to:

  • Federal Taxes tab (Person in the Home & Business version)
  • Deductions and Credits
  • Your Home
  • Mortgage Interest and Refinancing and Property Taxes

NOTE: As long as it is secured by the home, the interest on up to $100,000 borrowed on a home equity loan or home equity line of credit, regardless of the reason for the loan, can be deducted in the Mortgage Interest section (Home Loan Deduction).