How do I attach a section 1.163-10T mortgage interest election to a return?

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ProSeries Professional

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Terry53029

Intuit Community Champion

You attach your statement as a PDF. When you have the client open, click on e file, attach PDF. I hope you realize once you make that election it can only be changed with IRS permission.

rbynaker

Level 13

@Terry53029 wrote:
You attach your statement as a PDF. When you have the client open, click on e file, attach PDF. I hope you realize once you make that election it can only be changed with IRS permission.

I question the relevance of this election post-TCJA. I can't imagine a situation where I would need or want to make this election.

See this CCM for a good explanation:

https://www.irs.gov/pub/irs-wd/1201017.pdf

Rick

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TaxGuyBill

What exactly are you making the election to do?

If you want to treat it as business or rental interest, you make the election by just entering the interest in that proper other place.