1098 entry

[Honu-s-forever]

am I supposed to enter the total 1098 mortgage interest for rental property expense or do I divide the rental property expense between rental and personal use for a second home? It asks for my 1098 in both the rental section of income and again in the Deduction section for a second home. I cannot figure out if TurboTax is doing the calculation for me appropriately or if I have to manually calculate percent use for personal reasons? Thank you for your time

[PatriciaV · Accepted solution]

Yes, enter the total amount from Form 1098 for the mortgage interest relating to the rental property. TurboTax will allocate the rental portion based on the number of Rental Days. Enter this first on the Rental Property and the program will transfer the personal portion to your Itemized Deductions.

Expenses that are specific to the rented portion of your home should be entered on the page titled "Any Miscellaneous Expenses?". Entries made on this page will not be allocated.

[Honu-s-forever]

Great.  So for rental property expenses like cleaning management fees etc just add up and put in miscellaneous section? 
insurance and mortgage interest are in those specific sections in rental expenses though correct??

[DavidD66]

Yes.  Both of your statements are correct.