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Deductions & credits
Is the expected behavior:
- TurboTax reads in the full $16k mortgage interest on Form 1098
- 25% ($4k) will be allocated to rental expense on Schedule E
- 75% ($12k) will be transferred to Schedule A as personal deduction
Will the $12k be prorated due to $750k limit?
‎April 2, 2023
4:05 PM