Yes - I think we're on the same page.
My only issue here had to do with the size of the property versus the land and I thought I had to calculate that to arrive at a percentage and then divide by two. In any event, what you indicate makes sense. When I take the 61.3% on the $27K interest it equals to $16,740 which I can claim on SCH E and will ultimately arrive at a loss which will bring my gross income down. The other 38.7% will be $10,452 which I will claim on my SCH A. I will continue doing this for the life of the loan right?
I think my math is correct right?
