TT2018, Outstanding Mortgage Amount ~ Do I enter all or half if part is rentals?

CaddyGrn · ‎June 3, 2019

This year for what I can recall is the first time.... TT has asked for the full amount of my outstanding mortgage amount as of Jan 1. Do I enter the full amount as shown on my 1098 form because 1/2 of the building is rental property and I only claim 1/2 as personal and 1/2 as rental expenses. The amount is less than 1 Million so does it matter?

eric_bickett · ‎June 3, 2019

I'd list the entire outstanding balance. THere are other areas asking if you occupy all or part of the building.

CaddyGrn · ‎June 3, 2019

Thank you for your quick response. I went through all the questions, and TT did not ask if I occupied all or part of the building.... maybe I should review.

TT2018, Outstanding Mortgage Amount ~ Do I enter all or half if part is rentals?

Investors & landlords

Investors & landlords