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Jasonfinancials
Returning Member

Renting out half of my home (two story) and living in other half, and how to enter them on income and expenses verses deductions and credits.

Renting out half of my home and living in other half, do I enter my 1098 twice? Half of 1098 amounts as rental expense and the other half as deductions and credits? Or is that already prorated from entering the full amount as a rental expense?

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1 Reply
Carl
Level 15

Renting out half of my home (two story) and living in other half, and how to enter them on income and expenses verses deductions and credits.

It depends on what you selected. If you elected to enter amounts manually, then you have to do the splits yourself. I would recommend you do it that way, as if you elect to have the program do the splits for you, the program *does* *not* do the splits for everything. So just elect to do it manually yourself.

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