Loan details

[Npadilla]

Question. .. 

I'm doing my sister taxes on TurboTax. 

So I'm not sure what you click here.

My sister has a mortgage loan that was under my parents name. She took over the loan in the middle of last year. When she took over the loan she also got out a home equity line of credit so it went from 60k to 80k. So turbo tax is asking, is the loan 

A. This loan is a home equity line credit 

B. This loan is a refinance of a previous loan. ( If I pick this one, I have the question, did you use your loan for anything besides paying off existing loan?)

C. This loan is neither of these. 

So basically she did both she took over the loan under her name and got an equity line of credit. 

[robtm]

I think the answer would be A since she did take out a line of credit but did not pay off the mortgage but just assumed it.