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?
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?
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.
Hi,
I am using Proseries Basic.
Thank you very much!
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,
Hi,
Adding that I am expect the transfer from 1098 to schedule A.
Thank you,
The Turbotax downloads to Proseries Basic 2023 and 2024 is doubling up on the mortgage interest.
Hope they fix this!
I hear you, but Wow!, this one is serious, lol It has to be happening all across America and people don't even know it
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