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How can we deduct mortgage interest on a heloc taken on our primary residence in 12/16 to purchase a 2nd home?
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Yes. Please read this TurboTax FAQ for information on "Can I deduct interest on a home equity loan or a HELOC?": Can I deduct interest on a home equity loan or a HELOC?
Entering Mortgage Interest:
- Open your return (if not already open).
- Click on "Take me to my return" box if applicable.
- Search for "mortgage interest" in search box.
- Click on "Jump to mortgage interest" link.
- Follow interview screens.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
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