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Investors & landlords
Yes, delete your Mortgage Interest and Property Tax amounts from Schedule A.
Enter the entire amount of each in the Rental Expenses section.
TurboTax will calculate the Rental Portion and move the balance to Schedule A.
There's not much difference in using the Tax Court Method or IRS Method, but go ahead and uncheck the box. Since you're either renting the property, or living in it (but not both at the same time), it doesn't affect you.
Here's more info on Rental Property Expenses.
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‎February 27, 2024
9:56 AM