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March 21, 2020
Question

On my HELOC loan, I got a $100000 line of credit but only used $66000. For original loan balance, do I put the full amount of credit line or only what I used?

  • March 21, 2020
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1 reply

March 21, 2020

In order for your HELOC loan to be deductible, you need to meet the conditions noted in this link:  HELOC Loan

 

Only the amount you used would be deductible, if you itemize, and meet the conditions in the above link.

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