strategictaxpro
Level 1
12-07-2019
03:02 AM
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on Sch A there is a place to put the lenders name and SS number but there is no where to enter this information on sch e
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sjrcpa
Level 15
strategictaxpro
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12-07-2019
03:02 AM
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I know that. The question is how/where to enter it so it does not appear twice on sch A and E?
sjrcpa
Level 15
12-07-2019
03:02 AM
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If it is for the rental you only enter it on Sch E.
Ex-AllStar
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strategictaxpro
Level 1
12-07-2019
03:03 AM
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The person whom the mortgage is payable to has to have his name and SS number entered. Where do I enter that info if it only goes on sch E?
Marc-TaxMan
Level 8
12-07-2019
03:03 AM
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Maybe you should see a Pro.
Sounds like this is beyond you. Again.
Sounds like this is beyond you. Again.
strategictaxpro
Level 1
12-07-2019
03:03 AM
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Please stop you are not helpful. I am a tax pro it is Proseries I am asking about. Please dont answer anymore. You are not helpful
abctax55
Level 15
12-07-2019
03:03 AM
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And you are unclear on the concept of paying interest on a private loan. As well as how it is "reported".
"*******Tax software is no substitute for a professional tax preparer*******
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IRonMaN
Level 15
12-07-2019
03:03 AM
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But it isn't ProSeries. It doesn't get strategically placed anywhere in the software.
Slava Ukraini!
Slava Ukraini!
Marc-TaxMan
Level 8
12-07-2019
03:03 AM
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Do NOT put it on A. On Sched E Wkst double click the Interest cell and it will give you an Itemized Stmt you can list whatever you want.
IRonMaN
Level 15
12-07-2019
03:03 AM
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But I think those statements are there just to make you feel good, they don't get transmitted with the return.
Slava Ukraini!
Slava Ukraini!
strategictaxpro
Level 1
12-07-2019
03:03 AM
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the person who holds the mortgage has to have a name, address, and SS number put into the return so the IRS can make sure the interest income is reported.
IRonMaN
Level 15
12-07-2019
03:03 AM
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Look at the first answer at the top of the page. Please look at it.
Slava Ukraini!
Slava Ukraini!
abctax55
Level 15
12-07-2019
03:03 AM
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NOT ON A SCH E>>>>>>>> ONLY ON A SCH A !
Is that clear enough for ya'?
If you think differently, please provide a cite for your position.
Is that clear enough for ya'?
If you think differently, please provide a cite for your position.
"*******Tax software is no substitute for a professional tax preparer*******
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( Generic Comment )"
abctax55
Level 15
12-07-2019
03:03 AM
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"The person whom the mortgage is payable to has to have his name and SS number entered".
I'd put that on the Form 1098
"*******Tax software is no substitute for a professional tax preparer*******
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( Generic Comment )"
Marc-TaxMan
Level 8
12-07-2019
03:03 AM
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Maybe you should see a Pro.
Sounds like this is beyond you.
strategictaxpro
Level 1
12-07-2019
03:03 AM
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THIS IS NOT HELPFUL
IRonMaN
Level 15
12-07-2019
03:03 AM
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But you don't find anybody's help "helpful". Maybe it is beyond you.
Slava Ukraini!
Slava Ukraini!
abctax55
Level 15
12-07-2019
03:03 AM
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"....but there is no where to enter this information on sch e"
Perhaps that is because it is NOT required?
"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
( Generic Comment )"
qbteachmt
Level 15
12-07-2019
03:03 AM
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Did you search the forum?
https://accountants-community.intuit.com/questions/283475-1099-int-by-renatal-property-owner
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"Level Up" is a gaming function, not a real life function.
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