Mortgage Companies are now required to pay interest on monthly property tax and insurance withholds. The mortgage company adds that interest to the withhold account but sends a 1099-INT. If this is for a Rental Property it seems reasonable that the interest shown on the1099-INT be included in the Rental Income vice personal income and thus be offset by rental expenses. But Turbotax Home and Business 2023 does not allow 1099-INTs to be entered as a rental income. 1099-INT entry is only under personal income and thus is liable for the full incremental personal income tax rate. Can this be fixed?
