I understand I can only take one credit, I am trying to clarify if TT has already taken care of the deductions section and I should say I have home loans at all, since TT would have made all the appropiate splits and adjustments automatically.
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You are correct. If you entered the mortgage interest and real estate taxes, in full, into the rental section and provided all of the rental allocation information (number of days personal use, etc.), then TurboTax will allocate the mortgage interest and real estate taxes between Schedule E (for the rental portion) and Schedule A (Itemized Deductions).
So, in the personal section of TurboTax, you would not enter anything regarding the home mortgage interest.
You are correct. If you entered the mortgage interest and real estate taxes, in full, into the rental section and provided all of the rental allocation information (number of days personal use, etc.), then TurboTax will allocate the mortgage interest and real estate taxes between Schedule E (for the rental portion) and Schedule A (Itemized Deductions).
So, in the personal section of TurboTax, you would not enter anything regarding the home mortgage interest.
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