Need help as it is the first year being a landlord.
From Jan to May, we lived there as primary, then we bought another house and rent out the old one from July-Dec.
I understand that we should split the mortgage interest/insurance premium/property tax to different sessions.
I completed the "rental income" --> "common expenses", and I also adjusted the "real estate tax" and "insurance" -- the total amount divided by 12 and times 7 (from June-Dec).
However, when I go to the "deductions/credits" and enter for the same 1098 as my primary house (I adjusted the amount as well and checked the box " it is a different amount than 1098). My tax obligation jumped a lot. There is a message like below. Where did I go wrong? Why I owe more after I input the interest information? Thank you very much!
