Hello! I tried to enter points on rental but it is not calculating.
Here's what I did:
Add asset
Amortizable intangibles
Described asset - added cost and closing date of loan
Selected purchased new asset
Clicked used for 100% of business and entered closing date of loan
Selected code section 163:Loan fees
Entered in useful life of 30 years
Asked if I wanted to take special depreciation allowance (clicked no because I don't think it applies)
Calculates $0 for the amortization
Can you please let me know what I did wrong?
