AmyC
Expert Alumni

Get your taxes done using TurboTax

It depends. If you are renting part of your home, then expenses do have to be prorated between Sch E and Sch A.

 

First, in the general property information,  you must have marked "I rent out part of my home".

Second, select a method, enter percentages and numbers.  There are two options, either way you must know the percentage for the rented portion.  For my example, I will use 25% rental.

  • You do the math:  Enter your %, example 75% of the mortgage interest and property taxes under federal deductions and credits for Sch A. Enter the other 25% on sch E for the rental.
  • Let the program do the math:  Select that you rent part of your home, enter the percentage and select for the program to do the math. The program will put the correct 25% amounts on Sch E and pull the rest to Sch A.

You absolutely want to be viewing your forms as you  prepare the return. To print or view  your forms, including all worksheets:

  • In desktop, switch to Forms Mode. 
  • For online:
    1. On the left side, select  Tax Tools
    2. Select Print center
    3. Select Print, save or preview this year's return
    4. If you have not paid, select pay now.

 

 

 

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