I personally took out a loan to buy in to a business which generated a K-1 for S-Corp pass through. Turbotax asks if I personally paid interest used to acquire the business, which I entered and it's properly reflected on page 2 of Sch E -- however there's not an easy way to add the loan costs (lender, title, recording fees). I know they should be amortized on Form 4562 - but TurboTax does not ask/guide for that. When I switch to Forms, I can add Form 4562 for this business K-1, but TurboTax doesn't seem to do any calculations - and does not carry the amortized cost over to my Schedule E. I could manually add it as another line on Schedule E and then override all the values - but this is a lot of overriding. Is there an easier way? or did I miss something? Business is being treated as S-Corp.
