You'll need to sign in or create an account to connect with an expert.
Did you report that you rented the property during the year? Have you checked your business use percentage for the rental property? Either of those factors may change the amount of mortgage interest that is allocated to the rental property.
Mortgage interest for rentals is still glitching. Please advise.
The most common reason is if your total rental expenses (including depreciation and interest) exceed your rental income, you have a passive loss.
I am seeing this same issue. I have insurance, real estate taxes, and mortgage interest on my rental property with the property being occupied the entire year and it is entering zero for my property expenses. As a result, it's showing I have more profit than what I actually had. There is a bug!
I was able to fix it!
I had gone through the wizard several times entering the same info to no avail. I think the sum function is not being triggered for the combination of fields i entered expenses for. I had to enter a manual adjustment, it still showed zero for expenses. I re-went through the wizard again entering the exact same info, then it properly showed the expenses. I un-checked the manual expense option and the expenses were finally properly summed for the property.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
jovipowers
New Member
gfwalker7
Returning Member
catalinaioan21
New Member
kyle-patranella
New Member
vijeet88
New Member