Julia ATX
Level 1
06-08-2021
04:41 PM
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I'm trying to deduct loan origination fees from a refinance on homeowners primary residence. Can I enter those in Schedule A as points not on form 1098, or do I need to go thru the depreciation section since the deduction must be spread out over life of loan? That generates form 4562, which I thought was for business returns, not individuals.
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George4Tacks
Level 15
06-09-2021
09:29 PM
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Depreciation - Form = 8, Method = 91, life = length of the loan. There will not be a 4562.
Here's wishing you many Happy Returns
Julia ATX
Level 1
06-10-2021
01:35 PM
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Still generating 4562. Is there a way to suppress the form altogether or maybe it doesn't matter if it's included?
George4Tacks
Level 15
06-10-2021
07:53 PM
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It is never a problem to have an extra page attached, as long as it applies to the return.
Here's wishing you many Happy Returns
