How do I enter real estate tax for a 2nd home in lacerte? It is not considered investment property and is not a rental property-just a 2nd residence.
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I use Ctrl + E to open the real estate tax and enter detail for Primary and a 2nd line for next residence and a 3rd line for the prorata share of timeshare, etc.
The client has an IL resident return. In IL there is a credit for re tax paid in IL. The other home is in WI. If I add the WI home to the principal residence space then the IL re tax credit calculation includes the WI re tax. I would prefer not adding WI to the return since I pay per rep.
Thanks for your help.
Thanks for your response.
Is there income from WI? If so, you client might get a bill and not really love you so much.
Remember the client will pay the REP and if there is a filing requirement, you are at least responsible for giving them a choice.