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anniegug
New Member

I paid loan origination fees in 2009 that I have been depreciating annually. Turbo tax has not given me a way to show the depreciation amount for 2020. How do I do it?

In 2009 I had points that were not reported on my 1098.  I have been depreciating the points each year on a Federal depreciation schedule.   I need to show them under 8c of itemized deductions.  How do I do that with Turbo tax
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AnnetteB6
Employee Tax Expert

I paid loan origination fees in 2009 that I have been depreciating annually. Turbo tax has not given me a way to show the depreciation amount for 2020. How do I do it?

After you enter your Form 1098 for your mortgage interest, there will be a question asking if you paid points on your loan. 

 

When you indicate that you are spreading the points over the life of the loan (amortizing), you will be able to enter the details of your loan and the points you paid so that the current year deductible amount can be calculated and reported on Schedule A line 8c.

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