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Investors & landlords
Enter your total Mortgage Interest and Property Tax as Rental Expenses first. Based on the number of 'days rented' TurboTax will calculate the rental % and put the remaining % on Schedule A for you.
You can see the allocation on the Schedule E Worksheet. You will also see it on the Tax and Interest Deduction Worksheet
This works for both Mortgage Interest and Real Estate Taxes.
Be sure you indicated in the Property Profile section under Rentals the number of days of rental, and the number of days of personal use (non-rental).
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March 23, 2022
2:17 PM