Real estate tax on 2nd residence Schedule A input

Forum|Forum|6 years ago
March 10, 2020
1 reply
15 views

How do I enter real estate tax for a 2nd home in lacerte? It is not considered investment property and is not a rental property-just a 2nd residence.

Lacerte Tax

This topic has been closed for replies.

Best answer by George4Tacks

Screen 53.071 3 up from the bottom is an [O] Override for Total

George4Tacks

Level 15

I use Ctrl + E to open the real estate tax and enter detail for Primary and a 2nd line for next residence and a 3rd line for the prorata share of timeshare, etc.

Answers are easy. Questions are hard!

J

JackWAuthor

Level 3

The client has an IL resident return. In IL there is a credit for re tax paid in IL. The other home is in WI. If I add the WI home to the principal residence space then the IL re tax credit calculation includes the WI re tax. I would prefer not adding WI to the return since I pay per rep.

Thanks for your help.

Thanks for your response.

George4Tacks

Level 15

We all make choices.
Is there income from WI? If so, you client might get a bill and not really love you so much.
Remember the client will pay the REP and if there is a filing requirement, you are at least responsible for giving them a choice.

Answers are easy. Questions are hard!

Sign up

Login with SSO

Let's get you signed in

Login with SSO