Home Equity Loan Interest NOT related to buying, building or renovating your home

Enter home equity loan interest if you used the loan proceeds for anything other than a home improvement project.

For example, if you took out a home equity loan to buy a car, finance a vacation, pay off existing credit card debt, or pay for school, enter the interest here. This interest isn’t deductible for AMT purposes, though it is deductible for regular tax purposes (if you itemize deductions).