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July 16, 2020
Question

I have a home equity loan. I used it for various expenses throughout the year. I have no receipts. Can I just skip this section?

  • July 16, 2020
  • 1 reply
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Can I skip the section on my home equity loan?  I used it for various expenses.

1 reply

rjs
Employee
July 16, 2020

Yes, you can skip it. The interest on the home equity loan is not deductible, since you did not use it to "buy, build, or substantially improve" your home. There is no need to enter it.