Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
eric-m-einstein
New Member

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?

1 Reply
tygrtchr
Level 7

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.

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~