- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
If I have a roommate in my home (50%) and they pay rent, when I am reporting mortgage interest on my home, must I calculate 50% of interest? Or does turbotax auto?
If I have a roommate in my home (50%) and they pay rent, when I am reporting mortgage interest on my home, must I calculate 50% of interest? Or does turbotax auto?
Since I already noted the 50% shared use, is the software now calculating or expecting me to do that first for the mortgage interest?
Topics:
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
If I have a roommate in my home (50%) and they pay rent, when I am reporting mortgage interest on my home, must I calculate 50% of interest? Or does turbotax auto?
If the mortgage is in your name, then you should claim all of the interest. Whatever your roommate pays you in rent should be counted as your income.
Still have questions?
Make a post
Or browse the Forums