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bryanc
June 1, 2019
Question

In 12/18, i refinanced my primary home and took out a heloc at the same time. have entered the refi info into turbo tax, but how do i address heloc in turbo tax?

  • June 1, 2019
  • 1 reply
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1 reply

V
Vanessa11_2
Employee
June 1, 2019

If the HELOC was not used to buy, build or substantially improve your home you will not enter it at all as it is not deductible. 

If you did use part of it to substantially improve your home, then you will enter it but will need to calculate the amount that was not used on your home if the entire amount was not used on your home. 

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