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Camp1040
Level 10
May 2, 2021
Solved

Rental mortgage paid off.

  • May 2, 2021
  • 8 replies
  • 46 views

TP paid off the mortgage of his rental property that still had 20 years of loan points being amortized. How do I get a current expense deduction for the remainder of the unamortized  points without  overriding the asset entry worksheet.

 

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Best answer by JRC

Override total remaining points on the current years asset entry worksheet.

It will still go through with the override.

 

8 replies

JRC
JRCAnswer
Level 7
May 2, 2021

Override total remaining points on the current years asset entry worksheet.

It will still go through with the override.

 

Camp1040
Camp1040Author
Level 10
May 2, 2021

That is what I was doing, but I did not want to override. Actually I was overriding current depreciation deduction. Thanks, your answer will give me the nudge to override. 

JRC
Level 7
May 2, 2021

LOL  It's good go confirm our steps with other's...