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Deductions & credits
I think I have the same question as I rent out a room in my condo, but I didn't understand the answer.
On TTDeluxe, are you saying I need to deduct the percentage of the condo expenses (mortgage interest, insurance, property taxes) in the "deductions and credits" section that lowered my "rental income"? I.e. would the % of my insurance that was deducted from my overall rental income become double-counted if I listed the full amount in my "Your Home" --> 'Mortgage Interest, Refinancing, and Insurance' section?
‎April 28, 2021
2:52 PM