I am trying to enter Airbnb income and expenses. When I answer the questions, TT double bookkeeps, resulting in loan interest and property tax claims that far exceed what we actually paid this year.
I entered the 1098 that I received from the mortgage company, for our home, which includes a new Airbnb apartment. The 1098 provided TT with our interest and property tax for the year. Then under the property rental section, I told TT the property is part of our primary residence and answered the questions about the interest and taxes, etc., for the Airbnb apartment. That resulted in total interest and property tax claims that were way too high. To correct this (I hope I'm doing it right) I tried several things that didn't work, but eventually I changed my 1098 to show zero ($0) interest and the amount of property tax that is NOT associated with the Airbnb.
However, I couldn't find instructions for this anywhere.
When I called for help I was told that TT removed "Live Assistance" from TT Premier, starting this year, but I could switch to TT Live, pay another $129 and start over, but this time with access to someone who could answer my questions. (REALLY??)
Airbnbs are common today.
Did I do it correctly?
Why is it so hard to understand how to enter the data.
Why can't the rental property section coordinate with the home mortgage 1098 section?
Why does it calculate the rental/personal use split differently for interest and property tax - without good instructions for either?
Are we really supposed to change the 1098 from what the mortgage company provided?
