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How do I claim interest from home equity line of credit in my federal income tax return? |
How do I claim interest from home equity line of credit in my federal income tax return? Use TurboTax. It will ask for everything that you need. The mortgage company will send you a Form 1098 (sort of looks like a 1099) that states how much interest you paid throughout the year. Bring it when you get your tax return done and your tax preparer will determine whether or not you can use it. I work in a tax and accounting firm. Our clients bring us these. It goes on Schedule A, line 10. |
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