Does anyone know how to enter the costs of a loan refinancing on a rental property on screen 22 in lacerte. Its a residential rental Schedule E asset. Is the Category in the drop down box Category 7-Miscellanous or 8-Amortization on screen 22 the input screen?
Also the mortgage is a 30 year mortgage how do I get a 30 year period I do not see it in the method drop down box. How can I get a 30 year period I'm guessing have to override this someplace but not sure where to do it on screen 22?
This discussion has been locked. No new contributions can be made. You may start a new discussion here
It's 8 Amortization.
I think you enter 360 (for months) to get 30 years.
Thanks, but which box do i enter the months or years?
There seems to be a straight line option method 91 I guess if I put 30 years in the class life I can get a 30 year s/l amortization
Here is how I would set up the costs on a 30 year loan
I wish the search feature worked on this site. The best I could find was https://proconnect.intuit.com/community/business-tax-credits-and-deductions/help/expensing-and-amort...
I believe that this should not be am issue at all. On the contrary it is a pretty good thing.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.