Down below we'll discuss how to enter Excess Mortgage Interest for more than four loans on Schedule A in Intuit Lacerte.
To enter the Excess Home Mortgage Interest:
You should start off by printing the Excess Mortgage Worksheet to manually calculate all loans (including the additional loans). From there:
- Go to Screen 25, Itemized Deductions.
- Scroll down to the Interest section.
- Report the total of all loans in the field Home Mortgage interest & Points on Form 1098 [A] (Ctrl+E) (code 21).
It is important to note that Lacerte does not generate any additional columns in excess of four mortgage loans.