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Get your taxes done using TurboTax
Dawn thanks
I did see where TurboTax does figure out the amount of property taxes and does calculate those correctly in both the business and Schedule A.
I am having an issue with the Mortgage Interest. I think the issue is because of only being able to deduct interest on up to $750K of the remaining loan value of the house. Before I made the main house a rental the deductible mortgage was reduced by 20% to get the loan to $750K. That was $26K of mortgage interest deduction on Schedule A. Once I made the house a rental, and it was rented 62% of the time, the deductible mortgage interest deduction on Schedule A increased by $7K. That was what was 38% of what I entered in the business section. Should I not enter the interest in the main section, as it is also being entered in the business section?