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May 7, 2021
Question

Where do I enter the interest I paid on my home equity line of credit in 2020?

  • May 7, 2021
  • 1 reply
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EQUITY LINE OF CREDIT, WHERE DO I put the interest I PAID in 2020

1 reply

RayW7
May 7, 2021

Same place you enter the 1098 for your residence, under the Deductions & Credits tab in the "Your Home" section. But be aware that home equity (HELOCinterest is only deductible if the money was used to buy or improve the property that is secured by the loan.

 

-follow this link for additional information-

Can I deduct interest on a home equity loan or a HELOC?