I have a 1098 for rental property that was a rental 100% of 2016. I should delete the mortgage interest from personal deductions & only list under rental property, yes?

[DS30 · Accepted solution]

Yes, that is correct.

If your Form 1098 relates 100% to your rental property, you will only report this information under your rental expenses. If you included them under the home mortgage interest section, you will need to remove that information from that section and report under the rental section.

To enter your rental mortgage interest  (for TurboTax Online sign-in, click Here) in TurboTax Online or Desktop, please follow these steps:

1. Once you are in your tax return, click on the “Federal Taxes” tab ("Business" tab in TurboTax Home & Business)
2. Next click on “Wages & Income” ("Business Income and Expense" in TurboTax Home & Business)
3. Next click on “I’ll choose what I work on” (jump to full list or see more income)
4. Scroll down the screen until to come to the section “Rental Properties and Royalties”
5. Choose “Rental Properties and Royalties” and select “start’ (or “update” is you have already worked on this section)

Enter your rental property information through the TurboTax guided questions (or edit your rental property if it is already entered) until you come to a screen that is titled, Your "rental property name" rental summary.

Select to edit your rental expenses>I'll choose what I work on> click through several screen until you get to one titled "Report Mortgage Interest". Put your mortgage interest from Form 1098 here.