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Am I able to report part of my real estate taxes for the home I live in and part of my home is rented out to others? If so how much am I able to report?
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March 12, 2020
12:35 AM
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Investors & landlords
Do you report rental income on your return?
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March 12, 2020
5:36 AM
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Investors & landlords
You can deduct as a rental expense the part of the home mortgage interest and real estate taxes attributable to the rental portion of your home.
If you rent out 20% of your home, based on square footage, you can deduct 20% of those expenses.
When you enter the rental property, TurboTax will ask if it is part of your home, and walk you through the entries.
@Twa
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March 14, 2020
12:18 PM