Hi I rented my house for 9 months last year. So, I have included 75% of my Mortgage interest and property Tax as rental expenses.
my understanding is that in the deductions, I need to report only the remaining 25% of my Mortgage interest and property Tax. However, when I enter in TurboTax the information from Form 1098 (lines 1 and 10 respectively), they do not get reduced by the amount already claimed as rental expenses. So, in the deductions (and in the Schedule A print out) the full amounts are shown!
Is this correct? or should I override the reporting? if so, how? do i just type on the 25% of the amount reported in Form 1098 (lines 1 and 10 respectively)?
please advise. Thanks.
