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Investors & landlords
Thanks but that didn't answer my question. Let me clarify please. I lived in the home for half the year and rented for half the year so if I researched it correctly, I have to prorate the mortgage interest based on the number of days to each (which I loaded in TurboTax). Some of the prorated mortgage interest can be applied to the federal taxes (for the time I lived there) and the rest of the prorated interest can be applied to the rental expense. My question was does Turbo Tax calculate the prorated interest (after I load the 1098 data) or do I need to prorate it and then input into TurboTax in each of those areas?
Thanks again
Sunday