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Level 3
September 10, 2024
Question

Form 8829 - Excess Real Estate Taxes

  • September 10, 2024
  • 1 reply
  • 6 views

I have worked through the relevant Line 11 worksheet in Form 8829 and wish to confirm the calculated amount should be put under Direct Expenses - line Excess Real Estate Taxes.

The line Real Estate Taxes under Indirect Expenses should be left blank.

Does the program automatically carry over the difference between the excess real estate taxes and the amount of real estate taxes actually paid to Schedule A?

TIA,

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    1 reply

    abctax55
    Level 15
    September 10, 2024

    I don't believe it carries; I always enter what I compute in the 'direct' expense area in Screen 29 and the rest directly in Screen 25 under RE taxes.  I also add in the description area "prop tax $$$ x OIH %" to help with next year.

    HumanKind... Be Both