Mortgage Interest, Insurance, Taxes on Duplex

[UwwBlake]

I own a duplex and live in one side, while renting out the other. I only have 1 statement for property taxes paid, mortgage interest paid, and insurance paid. Turbo tax asks for each of these items as a portion of the rental property and then I can enter my personal later.

How should I handle this?

Should I prorate the amounts (cut the amounts in half and enter half in rental and half in personal)? I am scared to do this because the 1098 won't match.

[JohnB5677 · Accepted solution]

For the purpose of allocating common expenses. If both sides of the duplex are essentially the same you can simply split it in two.  If one side is significantly larger, I suggest doing it proportional by square footage.

When posting your mortgage interest to your personal Deductions & Credits. Below the input screen for BOX 1 Mortgage Interest there is a check box for "The interest amount I entered is different than what's on the 1098".  When you select [CONTINUE].  You will have an opportunity to explain why it is different.  You can then feel confident that that it is posted correctly.

[UwwBlake]

This is great! Thanks so much!