You can allocate the percentages of interest expense and RE taxes between the Schedule A and Schedule E. TT ask you to input the entire amounts on the Schedule E rental form and will do the calculations for you. TT's calculation is erroneously allocating 100% to the Schedule E and (in my case) 50% to the Schedule A. This in effect overstates the deduction by 50%. I am now attempting to enter the amounts on my own.
