I have a mortgage that I pay to an individual for a rental where do I enter the interest in proseries ?

[strategictaxpro]

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

[sjrcpa · Accepted solution]

Correct. there is no place on Sch E.

[strategictaxpro]

I know that. The question is how/where  to enter it so it does not appear twice on sch A and E?

[sjrcpa]

If it is for the rental you only enter it on Sch E.

[strategictaxpro]

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]

Maybe you should see a Pro.

Sounds like this is beyond you.  Again.

[strategictaxpro]

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]

And you are unclear on the concept of paying interest on a private loan. As well as how it is "reported".

[IRonMaN]

But it isn't ProSeries.  It doesn't get strategically placed anywhere in the software.

[Marc-TaxMan]

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]

But I think those statements are there just to make you feel good, they don't get transmitted with the return.

[strategictaxpro]

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]

Look at the first answer at the top of the page.  Please look at it.

[abctax55]

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.

[abctax55]

"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

[Marc-TaxMan]

Maybe you should see a Pro.

Sounds like this is beyond you.

[strategictaxpro]

THIS IS NOT HELPFUL

[IRonMaN]

But you don't find anybody's help "helpful".  Maybe it is beyond you.

[abctax55]

"....but there is no where to enter this information on sch e"

Perhaps that is because it is NOT required?

[qbteachmt]

Did you search the forum?

https://accountants-community.intuit.com/questions/283475-1099-int-by-renatal-property-owner