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How to Split One Mortgage between Two Schedule C's
Hello All,
New to the Community, so thankyou in advance. Hopefully I can explain my situation well enough here.
I have 2 (separate) Home Offices, each with a different square footage, and only one mortgage statement, Form 1098. So my question is how do I split the mortgage, and the associated RE taxes, between the 2 offices?
As I have it entered right now, the taxes, mortgage interest are being "doubled up", thus giving an incorrect outcome on the return. Is it possible to enter the interest & RE tax without entering the data as from a form 1098?
Would it be necessary to apply the "procedure" to the repairs, utilities, etc. that apply to the whole house? Or would these items simply be a case of applying the appropriate % to the expense and entering the result on the data entry page(s).
I hope that was clear. And thank you again in advance for all of the help.