Rental property. Is my intrest on Mortgage entered in both the rental property Personal income section and the deduction section for Home mortgages?

[PaulaM · Accepted solution]

No, but you can allocate each portion to personal/rental section. Ex: Lived in home for 9 months and rental for 3 months. Allocate 75% of interest as a personal deduction and 25% as a rental deduction. Navigate to each section to enter their proportionate share.

When you first set-up the rental in TurboTax, there is a question regarding whether the property was used for personal use under the Property Profile section. See attachment

To get started with Schedule E:

• In your open return, select My Account
• Tools
• Topic Search
• Type 'schedule e' in the box, then select GO