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How to enter amortization of mortgage points for Schedule A, itemized deductions in Lacerte

SOLVEDby IntuitLacerte Tax144Updated July 19, 2022

Follow these steps to enter amortization of mortgage points on the Schedule A:

  1. Go to Screen 22, Depreciation.
  2. Select Schedule A from the left panel.
  3. Scroll down to the Federal Depreciation section.
  4. Select Schedule A (points) from the Form (Ctrl+T) dropdown menu.


  5. Enter the Date Placed in Service (Negative Date = Various).
  6. Enter the Cost or Basis.
  7. Select Straight Line (Method 91) from the Method (Ctrl+T) dropdown menu.
  8. Enter the Life or Class Life (recovery period automatic).
  9. Select 461=Sec. 461-Points from the Amortization Code Section (Ctrl+T) dropdown menu.


  10. Enter the remaining balance as Current depreciation/amortization (-1=none) [O] (if this is the final year).

To adjust the calculation of deductible points:

  1. Go to Screen 25, Itemized Deductions.
  2. Scroll down to the Interest section.
  3. Enter the adjustment in Points Not on Form 1098 [A] (Ctrl + E). Enter an increase as a positive number, and a decrease as a negative number.

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