Does anyone know how to enter the costs of a loan refinancing on a rental property on screen 22 in lacerte. Its a residential rental Schedule E asset. Is the Category in the drop down box Category 7-Miscellanous or 8-Amortization on screen 22 the input screen?
Also the mortgage is a 30 year mortgage how do I get a 30 year period I do not see it in the method drop down box. How can I get a 30 year period I'm guessing have to override this someplace but not sure where to do it on screen 22?
Here is how I would set up the costs on a 30 year loan
I wish the search feature worked on this site. The best I could find was https://proconnect.intuit.com/community/business-tax-credits-and-deductions/help/expensing-and-amort...