gunvir
New Member

Investors & landlords

"TurboTax will automatically allocate any portion of the mortgage interest not available for use under the rental section (Schedule E) to your personal deductions section (Schedule A) in this situation"  ... This is FALSE. I entered in the amount of time I used a residence as a personal property and also the amount of time it was a rental, then I entered the TOTAL mortgage interest, think turbotax will "automatically"allocate the this as rental expense and as deduction. TurboTax did not do this for me. Luckily I double checked. Cmon Turbotax, this isnt that hard to automate. Atleast dont be misleading.