Mortgage Loan Costs Amortization

[PWalter]

Where do you enter the Amortization for Mortgage Loan Costs for the very first time. I know it is on the Form 4562, but I do not know the Code Section or period to start the process. 

[Jim-from-Ohio]

Asset Entry Worksheet > Code L> IRC section 163> Enter recovery period way down on that screen.

[Just-Lisa-Now-]

Hey Jim, in the list PS has, 163 isnt included, I use 446, is that wrong?  Does it even matter as long as youve chosen the correct number of years?

[Jim-from-Ohio]

that is really strange.. when I do a right click on the IRC section > About Amort Code Section > Blue amortization code link. I get this below my comment.. but as far as choosing right code, I think it might matter as 197 is 15 years

[Just-Lisa-Now-]

How weird!  Why do you see a different page than I do?  Thats the same place I got the screen shot!   Oh wait, I didnt right click, I hit the yellow ? on the toolbar.  Let me try a right click, wonder if it goes to something else!

Are you using Basic or Pro?

[Just-Lisa-Now-]

nope, same whether I right click or just the yellow ?  I see the same in both Pro and Basic too....thats crazy

[Jim-from-Ohio]

I am using Pro