HI Sir or Madam,
I would like to ask additional question from this original question. So if the owner rents out part of its property. Schedule A will show the prorated tax portion for personal and Schedule E will show prorated tax portion for the rental. For the section under "Deduction and Credit", when it asked "enter any additional property tax you paid", the "property tax on your main home" section should leave blank, correct? If there is a line saying the personal portion of the property has been deducted the prorated amount (e.g. $XXXX).
In additional, under "Deduction and Credit", Mortgage interest should just enter the portion for prorate personal portion ? Even when the form asked to enter in all mortgage interest information from Form 1098 (all box info)? The amount shown already include the personal portion from Schedule E (even without entering Box 1 from Form 1098). Please advise.
Thank you for the assistance!!
