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Level 5
December 7, 2019
Solved

Where is in put screen in Lacerte for Screen 25 Individual module to show that 1/2 mortgage was for improvement and the other for non-home related things like cars?

  • December 7, 2019
  • 1 reply
  • 8 views

Taxpayer used 1/2 of refinanced mortgage in 2012 to buy a car and the other 1/2 to improve her residence. Where is in put screen in Lacerte for Screen 25 Individual module to show that 1/2 mortgage was for improvement and the other for non-home related things like cars so that only the interest on the balance used for home improvements is deductible?

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Best answer by abctax55

The software can only do so much...

YOU have compute, then enter on Screen 25, the amount that is deductible. 

1 reply

abctax55
abctax55Answer
Level 15
December 7, 2019

The software can only do so much...

YOU have compute, then enter on Screen 25, the amount that is deductible. 

HumanKind... Be Both