Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community

1 reply

DoninGA
DoninGA
Employee
April 10, 2025

The interest on the HELOC loan would be entered as an itemized deduction on Schedule A of your tax return.  If you are not itemizing deductions and taking the Standard Deduction, then there is no reason to report the interest paid on the HELOC loan.

    N
    NCPERSON1
    April 10, 2025

    @irishfreak43 there is also no reason to claim the heloc if the money borrowed was NOT used to improve your home. 

    TurboTax Sign In Widget
    TurboTax flag icon

    Unlock tailored help options in your account

    Create an account
    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Terms & ConditionsCookie settingsAccessibility statement
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2022 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
    of Intuit Inc. Terms and conditions, features, support, pricing, and service options
    subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by
    C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    Accessibility

    TRUSTe nResult Certified e-File C-Level Security Certification