My primary residence is a 5-bedroom house. I use one room for rental purpose only (no personal use). The room was rented out 120 days in 2021 (not full year bc I couldn't find tenants, but the room was available for rental the entire year). When entering property information in TurboTax, I chose "rent part of the house out". My questions are:
1) In TurboTax, after choosing "rent part of the house", I entered 20% for rental square footage (1 in 5 rooms) and 120 for rental days and 0 for personal use. Is it correct? The room is for rental purpose only throughout the year, though it was only rented out for 120 days.
2) After entering the above information, Turbox Tax divided my total expenses (e.g. mortgage, interest) by 5 (based on the rental square footage) as rental expense. It indicates that the number of rental day doesn't matter as long as there was no personal use of the rented room. Is it correct?
3) Is mortgage interest 100% deductible for primary residence? If so, besides the 20% of mortgage interest reported as rental expense by TurboTax, where is the rest 80% reported in the tax form?
Thank you!
