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Form 1040: amortization of loan cost

helenyin
Level 5

Which IRC section should I use? I want to amortize it for 20 years.

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3 Comments 3
Camp1040
Level 11

Asset entry worksheet, right click on the box for amortization codes and then enter the years below on the asset entry worksheet. Loan costs 446 

helenyin
Level 5

Thank you.

I didn't find the exact place to do it. However, I scrolled down on the Asset Entry sheet and found the recovery period. 

 

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Camp1040
Level 11

Go line by line on the asset entry worksheet, about half way down and you will see a check box to enter the correct amortization code, right click on the box and the codes will appear in a new window.