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Split Mortgage Interest between Airbnb room, consulting office and home
Hello Again
I would like to confirm if the way I am assigning home mortgage interest is correct:
Assuming I have 10K on mortgage interest and Airbnb room is 10% of the space and consulting another 10%.
I am entering 1K on Schedule E and then another 1K on Schedule C. Then for Schedule A, I entered 8K.
I noticed on Schedule C, there is a field for Excessive Mortgage Interest. Can someone advise if I need to enter something on this field?
Thanks in advance.
Topics:
March 4, 2020
10:30 PM