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Investors & landlords
Yes, all of your 1098 interest for house B is deductible. House A interest deduction is split between Itemized Deductions on Schedule A and Rental Expenses.
Enter it in Rental Expenses first; TurboTax will allocate the correct % to itemized deductions when you set up your Rental Property and indicate Rental Start Date.
Here's more info on Rental Property Mortgage Interest.
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‎February 8, 2023
4:02 PM