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April 13, 2025
Question

turbotax is telling me to add an IRC code section to the schedule E worksheet called Asset Entry worksheet. What is an IRC code section?

  • April 13, 2025
  • 1 reply
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It does not give me options for the IRC code.

    1 reply

    April 13, 2025

    Are you amortizing loan fees?

     

    If so, I would use 163 if it is only "points", but 461 if it is other loan fees (or a combination of "points" and other loan fees).