So, if you used a HELOC to pay off student loan debt or to pay for a wedding, it won't qualify. "Generally, you can deduct the home mortgage interest and points reported to you on Form 1098 on ...

"However, any interest showing in box 1 of Form 1098 from a home equity loan, or a line of credit or credit card loan secured by the property, is not deductible if the proceeds were not used to ...

Form 1098 is used to payments of mortgage interest ... There's also a separate rule for mortgage interest paid on home equity loans and home equity lines of credit (HELOCs).

You will need Form 1098, which is your mortgage interest form. It will include the interest you paid on your home equity loan. You may not receive this form if you paid less than $600 in interest.

It includes first and second mortgages, home equity loans, and refinanced mortgages ... you might not have a form 1098 to show for it. The IRS only requires a lender to issue a form 1098 if ...

You will need to gather the necessary documentation to accurately report the HELOC interest deduction on your federal income ...