Running26
Level 3
04-07-2023
06:43 PM
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Yes, your last point. Taxpayers added a Heloc to their home mortgage to buy a business. I have been deducting the business interest portion on Sch E page 2 and taking it as a decrease in basis, but I am not 100% sure that is right. Lacerte seems to not let me override and not deduct from basis.