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Investors & landlords
i had a different problem. box 12 exceeded my box 1 interest income. ttax deducted box 12 from interest income, which i believe is correct. however, after my 1040 was generated error check said that i could only deduct box 12 up to the box 1 amount & that i could deduct the remainder in some other unspecified place.
i tried an override for an investment interest expense on schedule B. this showed on the form but was then ignored when generating the 1040. clearly there is a bug here & sending users to unspecified places to fix it is ridiculous.
‎April 3, 2021
4:16 PM