New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

Question

Where are deductible mortgage interest, qualified mortgage insurance premiums, and real estate taxes reported on Schedule A?

Answer

Per IRS Publication 587, the nonbusiness portion of deductible mortgage interest is reported on Schedule A, line 8a or 8b. The nonbusiness portion of deductible qualified mortgage insurance premiums is reported on Schedule A, line 8d. The nonbusiness portion of real estate taxes is reported on Schedule A, line 5b. If you select the simplified home office method, then 100 percent of the mortgage interest, qualified mortgage insurance premiums, and real estate taxes will be reported on Schedule A. 

Related topic: Office-in-home information FAQs (1040)

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