momma1
Level 3
07-15-2020
07:48 AM
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business loan interest. where to enter on schedule c
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Level 15
07-15-2020
07:55 AM
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Sch C has a line for interest paid.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
dascpa
Level 11
07-15-2020
08:53 AM
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Your question is very valid for the way ProSeries presents interest on a Schedule C. They list mortgages to banks and other, but the other links you to a supporting statement where "another person received the 1098". The presentation of this is incorrect but we've lived with it for decades. Just put the business loan interest, finance charge interest, etc. on the Other Interest line 16(b) and ignore the supporting statement.