I rent out a room in my primary residence. Will Turbotax automatically allocate the mortgage interest properly? Does the order of entry (personal or rental first) matter?
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I rent out a room in my primary residence. Will Turbotax automatically allocate the mortgage interest properly? Does the order of entry (personal or rental first) matter?
I rent out a room in my primary residence. Will Turbotax automatically allocate the mortgage interest properly? Does the order of entry (personal or rental first) matter?
The order matters a lot ... you must enter the rental in the Sch E section first and if you use the allocation option and let the program do it for you then it will ... do NOT enter any amount in twice ... read all the screens carefully.