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How to deal in 2019 taxes with unamortized portion of 2011 points in refinance?

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Level 1
 
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3 Replies 3
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Level 15

Input a date of sale in 2019 and override the current amortization amount. 

 


ex-AllStar
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Level 1

Sounds good but... that will show the full amount of amortization left as schedule A 2% deductions that are not any longer available!  How do I show the amount left as additional interest and remove the amortization?

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Level 15

Is this the 1st year you have done this in Lacerte? If you are using Screen 22, the form should be 8 and not 1.

OR just enter the number you want directly into Screen 25 for Points not on a 1098.

 


ex-AllStar