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J
JWC2622
April 11, 2025
Question

HELOC 1098

  • April 11, 2025
  • 1 reply
  • 0 views

I have entered all the information from my 1098 HELOC. I qualify for the interest deduction. However when I do the "Review. my taxes" I have an error. The system is looking for the remaining balance on the loan. That information is not on my 1098. How do I override this.

    1 reply

    V
    Vanessa A
    April 11, 2025

    You will need to provide this as the balance of the loans limit the interest.  You can get this from a bank statement or by calling the bank.  You would use the number as of 12/31/2024.  If the HELOC is paid off, then you would enter $0.  Do NOT enter $0 if it was not paid off as of 12.31/2024.

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