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New Member
posted Jun 3, 2019 1:47:12 PM

Where do I enter home equity line interest deduction?

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5 Replies
Level 15
Jun 3, 2019 1:47:13 PM

It goes in the same area as a Home Mortgage 

Mortgage

To enter mortgage interest

  • Click on Federal Taxes
  • Click on Deductions and Credits 
  • Click on I'll choose what I work on (if shown)
  • Under Your Home
  • On Mortgage Interest, click on the start or update button

New Member
Jun 3, 2019 1:47:15 PM

Do I add my regular mortgage interest and heloc interest together? If I do this I will have a different amount from my 1098. My 1098 only shows interest for the first mortgage.

Level 15
Jun 3, 2019 1:47:16 PM

What you should do is first enter one of them and go through the screens and then it will say, "Add a lender" and enter the 2nd one, if the same bank just type in something like Wells Fargo-HELCO for the home equity.  This also helps next year in reminding you that there are two loans and not to overlook one of them.

Level 15
Jun 3, 2019 1:47:17 PM

Post additional comment if still have questions.  Thank you

New Member
Jun 3, 2019 1:47:18 PM

Thank you