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Get your taxes done using TurboTax
Instead of allowing TurboTax to do the math for you, select 'No' and then enter the fractional components for the part of the home you rent out. You do the math in other words. Then enter the remaining fractional share on the Schedule A side. Do take into account the mortgage interest cap in both places. So 15% and 85% of your $20k in your case.
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March 4, 2024
6:17 PM
5,325 Views