Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Mortgage interest not transferring to Schedule A

ncastellanos
Level 2

Hi,

Client has a rental property and live in the property and also a line of credit. The mortgage interest for the line of credit is not transferring over to Schedule A? the portion of the rental is.

Is there any reason why this is not transferring over?

0 Cheers
5 Comments 5
moleson
Level 2

Are you really using Pro Series Professional?  What form did you expect it to transfer directly from to schedule A?  Maybe we may help you then if we had all of the information?

0 Cheers
moleson
Level 2

Unless the interest is an extremely large amount there is an excellent chance that it will not take it past the standard deduction amount, therefore not being deductible.  Enter it direct on schedule A and get on with the return.

0 Cheers
ncastellanos
Level 2

Hi,

I am using Proseries Basic.

Thank you very much!

0 Cheers
ncastellanos
Level 2

Hi,

The amount is not excessive, but it could be something not recognizing in the program.

I did manually add to the schedule A and it's working now.

Really appreciate your input.

Thank you,

ncastellanos
Level 2

Hi,

Adding that I am expect the transfer from 1098 to schedule A.

Thank you,

0 Cheers