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How do i enter a HELOC less than $600?

I have no 1098. Turbo only wants 1098 information.
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1 Reply
MonikaK1
Expert Alumni

How do i enter a HELOC less than $600?

To enter mortgage interest without a Form 1098 in TurboTax Online:

 

  1. Click on Deductions & Credits.
  2. Click on Show more beside Your home.
  3. Click on Start (or Revisit) beside Mortgage Interest and Refinancing (Form 1098) even though you do not have a Form 1098
  4. Answer Yes to the question Did you pay any home loans in 2022?
  5. Enter the name of your Lender on the next screen and click Continue.
  6. Select the radio button beside The seller is financing this loan and I didn't receive a 1098.
  7. Provide as much information as possible about your lender on the next page and click Continue.
  8. Provide interest and other loan information on the next page and click Continue again.
  9. Continue through the rest of the section making the appropriate selections as they apply to your loan.

Mortgage interest is only deductible on secured loans. To qualify, the loan must also be secured by the property it was used to buy, build, or improve.

 

Please see this article and this one for more information on home mortgages from TurboTax. 

 

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