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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- Lacerte DMS Import Error for 1098 box 5 mortgage insurance premiums
Lacerte DMS Import Error for 1098 box 5 mortgage insurance premiums
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ComputerizedFin
Level 2
05-04-2020
11:55 AM
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This is at least the second year that when I import the scanned tax documents from DMS to Lacerte I find that the 1098s with mortgage insurance premiums is flowing to detail screen 14.1, other income and then reported as other income on the client's 1040. What the heck is up with this??? Fortunately I am more then particular about every return that leaves my office and after an office associate enters the client's data I review it with a fine tooth comb and I believe and hope I have not missed any of these program errors! I believe I am correct it should NOT be included as income unless in a previous year the deduction was made and should have not been.
Has anyone else found this error that imports data into Lacerte from DMS?
Susan
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