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Property Taxes & Mortgage Interest on Royalty & Primary Home Property
Several years ago I began receiving gas royalties for my primary home property (couple hundred a year at best). For the first year, because it was my primary home with property taxes and mortgage interest, I tried to deduct those expenses under Common Expenses for Rental and Royalty Summary IN ADDITION TO under Your Home for Deduction and Credits. Turobox flagged it stating that I could not use that deduction twice. Now, for 2022 taxes, I entered those deductions again in both places but it passed Turbo Tax's review scans. Were there tax law changes regarding mortgage/property deductions for this type of scenario? Are these legal deductions?
‎February 25, 2023
7:01 AM