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Investors & landlords
@Carl, I'm in the Deductions & Credits section, doing my 1098. I converted the unit to rental in 2019. I don't remember getting this question then.
In the section I'm on, it asks "Is this loan secured by a property you own?"
I say "yes" and then that's when it asks "What kind of property is this loan secured by?"
If I put "other" which says it's rental, I have to pay 3-4k in federal taxes but if I put "primary residence" which is what it was when I bought the property, I get this 3-4k back.
‎February 12, 2022
7:59 AM