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February 15, 2024
Question

How do i add interest i paid on a home equity line of credit without receiving a 1098?

  • February 15, 2024
  • 1 reply
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I notified the banking institution and was informed that they don't issue one if the amount is less than $600, how do i enter the information manually?

1 reply

February 15, 2024

Enter the amount of interest you paid towards your home Equity Line of Credit (ELOC) in same way you would enter if you had a Form 1098.  Interest on an ELOC is only deductible if it was used to purchase or improve the  property secured by the ELOC. 

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