How do you record a business interest deduction on Schedule E?

edmonson4321 — Tue, 04 Jun 2019 22:49:56 GMT

The instructions for line 28, schedule E are specific, but the only way I could put this on the Turbo tax Schedule E form was to "override", so now your Analysis is telling me this should not be overridden and changed for Electronic Filing. How do I fix this? See the IRS instructions attached.

That line on the Schedule E is for Partnerships or Corpor...

Cindy0H — Tue, 04 Jun 2019 22:49:57 GMT

That line on the Schedule E is for Partnerships or Corporations which would come from entering K1 information. If you paid interest on a rental and want to deduct it as an expense, this is how to do it:

Rental
Rental & Royalty Summary...edit your rental
Expenses
After Mortgage interest is the page "Any Other interest Paid?"
This will be on Schedule E Part I line 13

If you have other questions about this, ask in the comment section below.

topic How do you record a business interest deduction on Schedule E? in Business & farm

How do you record a business interest deduction on Schedule E?

That line on the Schedule E is for Partnerships or Corpor...