I did do the rental property section first. However, there were no options to allow the program to do the splits for me. Likewise, there is no small print in the "your home" section that informed me that it has the mortgage interest / taxes on the rental. As a result, I pro-rated all of the amounts manually and enter both 1098s under "deductions and credits". When I enter the "outstanding mortgage principal" amount of 700K I strongly believe the program is assuming a home acquisition debt of 1.7mm when it calculates my mortgage deduction. I have spoken to multiple TT Live representatives. One has guided me to enter zero outstanding mortgage principal and other says I should enter the 700K. It sounds like from your comments that using a 1.7mm value is not correct, and TT should be picking that up. I will go through again to make sure I am not missing any fine print. However any other tips/suggestions are much appreciated. Thank you.
