sffdib
Level 5
05-03-2021
05:26 PM
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What is IRC section under which amortize the cost of intangible loan fees for rental property? Other software, just enter, amortization, 30 year, asset entry worksheet is stuck on the the code. I did search help on this form and all it came back is code 197
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Level 15
05-03-2021
05:34 PM
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If you put the cursor in the IRC box on the asset entry worksheet and hit the yellow ? on the toolbar, it will give you a list of amortization codes.
You also need to scroll down the asset entry worksheet near the bottom and enter the length of the loan for it to compute.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
sffdib
Level 5
05-03-2021
05:38 PM
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Thank you so much Lisa, the "?" did not work but the "right-mouse-click", "About IRC code section" worked.
Level 15
05-03-2021
05:40 PM
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FWIW I use 446 for loan fees
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
sffdib
Level 5
05-03-2021
05:52 PM
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Thank is what I used. Thank you.