DeanM15
Expert Alumni

Deductions & credits

If you have a combined rental and personal use property, the expenses have to be divided between the business use (Schedule E) and personal use (Schedule A).

 

The same is true for the state return. For Mortgage Interest and Property Tax, you should not enter either one of those figures into the Deduction and Credits section of TurboTax. Rather, after entering the business and personal use in the Rental Property Profile, you should enter the Interest and Tax in the Expenses section of your Rental property. The balance of personal expenses will transfer to your deductions and credits on both the Federal and state returns.

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