Level 3

Question

Doubling up of mortgage interest entered on from 8829

Forum|Forum|5 years ago
June 12, 2021
3 replies
26 views

When I enter mortgage interest on line 10 of form 8829 (indirect column) it then adds it to the Schedule A, instead of deducting the portion that is deducted as a part of Schedule C. What am I doing wrong?

ProSeries Basic

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Just-Lisa-Now-

Intuit Community Champion

You enter the Mort Int on the 8829, the business portion stays on the 8829 and it automatically pushes the personal portion to Sch A, you don't enter it again on Sch A.

Are you saying its giving you nothing on the 8829 and pushing all of it to the Sch A?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

HOPE2

Level 7

Thanks in Advance. What is interpretation of line 5 d in Sch A: FROM OFFICE IN THE HOME.

The amount I see here is not as same as amount the portion of Real State tax which I manually calculated and put on line 11 as indirect expenses on form 8829 based on the business started(business began around July). I think it is the rest of unused real state tax based on the date business stared during year for example 200 day/365 days. Still when I add portion of home and the amount line 5d in Sch A, I have not the whole amount of real state tax which is on 1098 box 10. How can I add the rest on Sch A?

Also, 8829 instruction says when you want to use standard deduction use line 16&17 on 8829 for mortg and real s tax and use line 10&11 for who want to use SchA . Proseries is not able to calculate portions at both methods. To clear for anyone wants to work on 8829 I think we need to find out what the procedures is when client want to use 8829 and standard deduction or use 8829 and sch A (when SchA is more than standard deduction)

T

TaxGuyBill

Level 15

@HOPE2 wrote:

started(business began around July).

How can I add the rest on Sch A?

It only works for a full year.

(1) Manually prorate the annual taxes and only enter the partial year amount on 8829.

(3) Calculate what SHOULD be on Schedule A. Take that number, subtract what the program is automatically putting their, and enter the result (the remaining amount) on one of the other lines, such as second home.

T

TaxGuyBill

Level 15

It seems to be working correctly for me.

If I have the Home Office as 10% of the home and enter $10,000 on Line 10 of 8829, it properly deducts $1000 on the 8829 and puts $9000 on Schedule A.

In the event you don't want it to flow to Schedule A at all (you want to manually prorate and enter the amount on Schedule A), there is a check-box on the "Smart Worksheet" right above Line 10 of the 8829.

HOPE2

Level 7

Hi, I have the same problem now as you had it. Could please tell me how did you fix it? Did you remove 1098 info and you put Mortg Int and real state tax first on 8829 and the rest pf pro rata went to Sch A?

Thanks

Just-Lisa-Now-

Intuit Community Champion

If youre using the 1098 worksheet it doesnt seem to let things flow properly when 8829 and the Sch A are involved....Id remove the 1098 worksheet and enter the amounts into the 8829, the personal portions will flow to the Sch A automatically.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

HOPE2

Level 7

Thanks a lot. But let me know how can put the information of the lender, its TIN number and their address.

I mean all info about on 1098, outstanding mortgage principal mortgage origination date and so on.

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