strategictaxpro
Level 1
‎12-07-2019 03:02 AM
on Sch A there is a place to put the lenders name and SS number but there is no where to enter this information on sch e
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sjrcpa
Level 15
‎12-07-2019 03:02 AM

Correct. there is no place on Sch E.


The more I know the more I don’t know.

View solution in original post

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strategictaxpro
Level 1
‎12-07-2019 03:02 AM
I know that. The question is how/where  to enter it so it does not appear twice on sch A and E?
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sjrcpa
Level 15
‎12-07-2019 03:02 AM
If it is for the rental you only enter it on Sch E.

The more I know the more I don’t know.
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strategictaxpro
Level 1
‎12-07-2019 03:03 AM
The person whom the mortgage is payable to has to have his name and SS number entered. Where do I enter that info if it only goes on sch E?
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Marc-TaxMan
Level 8
‎12-07-2019 03:03 AM
Maybe you should see a Pro.

Sounds like this is beyond you.  Again.
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strategictaxpro
Level 1
‎12-07-2019 03:03 AM
Please stop you are not helpful. I am a tax pro it is Proseries I am asking about. Please dont answer anymore. You are not helpful
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abctax55
Level 15
‎12-07-2019 03:03 AM
And you are unclear on the concept of paying interest on a private loan. As well as how it is "reported".
HumanKind... Be Both
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IRonMaN
Level 15
‎12-07-2019 03:03 AM
But it isn't ProSeries.  It doesn't get strategically placed anywhere in the software.

Slava Ukraini!
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Marc-TaxMan
Level 8
‎12-07-2019 03:03 AM
Do NOT put it on A.  On Sched E Wkst double click the Interest cell and it will give you an Itemized Stmt you can list whatever you want.
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IRonMaN
Level 15
‎12-07-2019 03:03 AM
But I think those statements are there just to make you feel good, they don't get transmitted with the return.

Slava Ukraini!
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strategictaxpro
Level 1
‎12-07-2019 03:03 AM
the person who holds the mortgage has to have a name, address, and SS number put into the return so the IRS can make sure the interest income is reported.
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IRonMaN
Level 15
‎12-07-2019 03:03 AM
Look at the first answer at the top of the page.  Please look at it.

Slava Ukraini!
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abctax55
Level 15
‎12-07-2019 03:03 AM
NOT ON A SCH E>>>>>>>>  ONLY ON A SCH A  !
Is that clear enough for ya'?
If you think differently, please provide a cite for your position.
HumanKind... Be Both
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abctax55
Level 15
‎12-07-2019 03:03 AM

"The person whom the mortgage is payable to has to have his name and SS number entered".

I'd put that on the Form 1098

HumanKind... Be Both
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Marc-TaxMan
Level 8
‎12-07-2019 03:03 AM

Maybe you should see a Pro.

Sounds like this is beyond you.

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strategictaxpro
Level 1
‎12-07-2019 03:03 AM
THIS IS NOT HELPFUL
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IRonMaN
Level 15
‎12-07-2019 03:03 AM
But you don't find anybody's help "helpful".  Maybe it is beyond you.

Slava Ukraini!
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abctax55
Level 15
‎12-07-2019 03:03 AM

"....but there is no where to enter this information on sch e"

Perhaps that is because it is NOT required?

HumanKind... Be Both
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qbteachmt
Level 15
‎12-07-2019 03:03 AM

Did you search the forum?

https://accountants-community.intuit.com/questions/283475-1099-int-by-renatal-property-owner


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