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Investors & landlords
DO NOT NOT NOT enter the mortgage interest payments twice .... (ignore the "doesn't match" crud ) you will either :
1) manually allocate the amount in the Sch E & Sch A sections by only entering the amount belonging to each section
OR
2) allow the computer to do the allocation based on the personal/rental use %
Read the screens carefully and then switch to the FORMS mode to see the allocations between the Sch E & Sch A ... review the worksheets if needed.
Also ... #1 mistake user's make in a rental conversion that will mess you up big time ... once the home is converted to a rental you did NOT have any personal use days (unless this is a vacation home that you use between renters). READ that screen carefully.
‎June 5, 2019
11:23 PM