I have a client who cannot take their rental loss currently due to their high income. They want to take the real estate taxes and interst and take it from Sch E to Sch A. I seem to recall a thread on this but cannot find it after a search.
I looked it up on Checkpoint but couldn't find the code reference-it will take more time to find it buried somewhere.
My reaction is that these deductions have to stay on SchE but it would be nice to have code to back me up.
I looked it up on Checkpoint but couldn't find the code reference-it will take more time to find it buried somewhere.
My reaction is that these deductions have to stay on SchE but it would be nice to have code to back me up.
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