Question

How to enterest interest on a HELOC loan where bank did not issue a 1098

Forum|Forum|3 years ago
February 22, 2023
1 reply
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Bank refuses to issue a 1098 because the interest I paid on my HELOC was less than $600. I know the amount of the interest paid from a bank statement. How do I enter this on TurboTax?

TurboTax Deluxe Online

D

DavidD66

The interest on a HELOC is tax deductible as an itemized deduction if the proceeds were used to improve your home. Even though you didn't receive a Form 1098, you will enter the interest in the same way you would if you had a Form 1098. Under Deductions and Credits, select Start/Edit next to "Mortgage Interest and Refinancing (Form 1098). On the "Let's import your tax info" screen, select "Change how I enter my form". Select "Type it in myself". Continue and the information for your HELOC.

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