So under Wages & Income (federal tax) I have to enter mortgage interest expense for renting a room out in my house. Let's say the amount is $1000 on my Form 1098. Do I enter $1000 as I see below in Turbo Tax?
The confusion comes later in Deductions & Credits where it asks again )see screenshot below) for Box 1 of Form 1098. Do I enter the same $1000 here or do I split $500 in the wages & income calculation for rental properties and royalties and $500 under Deductions & credits? This is unclear. In H&R block I designated that 50% of my property was rented out and the software automatically calculated which portion of my mortgage interest went to rental property and which portion went to standard deductions.
