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posted Apr 13, 2025 10:58:02 AM

turbotax is telling me to add an IRC code section to the schedule E worksheet called Asset Entry worksheet. What is an IRC code section?

It does not give me options for the IRC code.

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1 Replies
Level 15
Apr 13, 2025 3:04:20 PM

Are you amortizing loan fees?

 

If so, I would use 163 if it is only "points", but 461 if it is other loan fees (or a combination of "points" and other loan fees).