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Investors & landlords
Yeah, this is confusing. As per Airbnb advisory document you have to prorate rental portion of mortgage interest. In TT when you enter mortgage interest in rental section, it says "TurboTax will allocate your personal portion of qualified interest over to the deduction section for you." So after adding amount from box 1 of 1098 form in both rental portion and deduction portion, I see big number in line 10 of Schedule 10, almost twice the amount of total mortgage interest I paid. I'd really appreciate if someone can help here.
‎June 4, 2019
1:03 PM
21,753 Views