Investors & landlords
Yes. There are two options, either way you must know the percentage for the basement. For my example, I will use 25% rental.
- You do the math: Enter your %, example 75% of the mortgage interest and property taxes under deductions and credits. Enter the other 25% on sch E for the rental.
- Let the program do the math: Delete all numbers from deductions and credits. Return to Sch E to the property profile. Select that you rent part of your home, enter the percentage and select for the program to do the math. It will the correct amounts on Sch E and pull the rest to Sch A.
