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Investors & landlords
OK, I think I'm almost through this. So, to enter the Sch A deduction... After adding my 1098 under my rental (but only 54%!) do I then add the 1098 *again* under "Home loan deduction summary," but this time only including the 10% (or whatever) share of the interest that corresponds to the cash-out money I used for primary residence improvements? And every year, as I spend more money on improvements (new A/C, shed revamp, etc.) I may increase the % to match my cumulative use of the cash-out money towards primary home improvements? Or is there some other way to enter this in TurboTax?
March 29, 2021
11:27 PM