Turbox tax on Shcedule A
It does ask for Box 1 of 1098 and I provide my primary motgage interest from the 1098 I received. The mortgage interest is $5000
Now a portion of that $5000 (25%), which is $1250, is acttually spent on the rental investment obtained from refinance-cash of the primary mortgage.
I know I can eneter this value in Mortgage Interest in Schedule E question on the Business Rental Income question.
My question now is the actual that should go on Schedule is $3750 (difference of $5000 and $1250). Is that I should enter the value although the 1098 that I received show $5000.
If not where exactly should I reduce on Turbox Tax Business and Home software. Please be specific in your answer as I can't seem to figure where in Schedule A or Schedule E I can reduce this.
thanks.
