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New Member
posted Jun 6, 2019 6:25:22 AM

I rented out a portion of my house (25%) for four months in 2016. Where do I enter interest and taxes on Form 1098? Personal or rental section?

I rented out a portion of my house (25%) for four months in 2016.  In turbotax, how do I apportion the interest and taxes on Form 1098?  Do I manually calculate and enter 25% in one place and 75% in the other?  Or do I enter it all in one place and turbotax figures it out?

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New Member
Jun 6, 2019 6:25:24 AM

Rental income will be reported on schedule E.  The program will walk you through what expenses you can take.  You would pro rate the mortgage/interest/taxes based on the amount of space/time that you rented the portion of your home.  (Yes,you can deduct mortgage as to the rental income -- also depreciation!).