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Level 4
March 14, 2022
Question

I NEED TO REPORT SCH a INTEREST 1098 BUT THE OUTSTANDING EXCEED 750K HOW TO REPORT IT AND ALSO IF I HAVE POINTS ON BOX 6 HOW TO REPORT IT

  • March 14, 2022
  • 1 reply
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1 reply

sjrcpa
Level 15
March 14, 2022

Lacerte has input to compute the allowable mortgage interest deduction when the mortgage exceeds $750K.

I don't think it works for points. Manually limit to the allowable amount and enter on the points line.

The more I know the more I don’t know.