HELOC 1098 form with 0.00 Outstanding Mortgage Principal.

[Geoff Alexander]

I have a HELOC that I opened in 2017 for which I paid interest on in 2021.  The HELOC had a $0.00 balance on 1/1/2021.  TurboTax won't  let me leave box 2 blank or let me enter a value of 0.00.  So what do I do?  This seems like a bug in TurboTax, which has been reported a number of times.

[LeonardS]

The amount in box 2 is used to determine if your loan exceeds the $750000 threshold.  Form 1098 is an informational form that is not matched by the IRS.  If you know your loan balance, year-end statement for 2021, or your current balance you may use that amount for box 2.  This will allow you to proceed and will not impact your tax return.