I rent my house and received the 1098 form, where does the interestprop taxes paid info go, in the rental expenses section? on my home section? or both?

[PatriciaV]

Yes, if you rent your house to someone else and do not live there yourself, you would report the rental income and expenses (including those on Form 1098) under Rental Property. In this case, you would not also report your mortgage interest and property taxes from Form 1098 under Deductions & Credits >> Your Home. (You may not report an expense twice.)

Please follow the instructions below for entering income, expenses, and capital assets (building and improvements) for your Rental Property:

• Where do I enter income and expenses from a rental property?
• How do I handle capital improvements and depreciation for my rental?

[petraet]

Rental Mortgage Interest
Rental mortgage interest is deductible even if you don't itemize, but you still don't report it directly on Form 1040. Instead, use Schedule E to report your rental income and expenses. If you paid the rental mortgage interest to a financial institution and received a Form 1098, report the amount on line 12 of Schedule E. Otherwise, it goes on line 13. Only the interest paid for the particular tax year is deductible. Prepaid interest must be deducted in the tax year to which the payment is applied. For example, if you prepaid January 2013's interest in December 2012, you have to wait until your 2013 tax return to deduct that interest.  I hope this helps you.  pet

[miok966]

Hi, my house is a multi family. If i rent out apt 2 and live in apt 1. Where do I enter the mortgage interest on 2023 turbo tax desktop software? ty 

[AnnetteB6]

If there are only two units involved, then you can prorate the total mortgage interest between the two units based on the square feet of each unit.  If they are essentially the same size, then divide it 50/50.  

Enter your personal portion for the unit that is your residence in the mortgage interest section for itemized deductions.  Then, when you are going through the Rental Income and Expenses section, enter the portion of mortgage interest that applies for the rental unit as a rental expense.

@miok966