In addition to my last comment, I just went in an found that part that the tool asks me for the Rental Use Percentage.
It is in Schedule E, but it's actually in the part where I Report mortgage interest. It asks me if I refinanced the mortgage, and when I selected 'Yes' to this, it then asks me to Enter loan information for the property, and it has three fields, which are the following:
Date closed:
Term of the loan in years:
Rental use percentage:
This is where I'm stuck. Do I just put 100%? Because it was rented out 100% - the tenants were in it the whole year. Or does Rental use percentage mean how much I used the property for personal use? (not sure).
