Hello. I purchased a home (as my primary residence) in late June 2023 and started renting out a portion of it in July 2023. I've continued to rent it out since that time. This year, when completing the rental income portion of my taxes, TurboTax asked me to report mortgage interest on my home (and automatically allocated a portion to this rental). However, TurboTax showed that I did not report any mortgage interest associated with this rental in 2023 (when I had the same mortgage/also paid mortgage interest). I went to amend my 2023 taxes (using TurboTax), and the "Mortgage Interest" line simply is not there for me to report my 2023 mortgage interest. I would have to use the "Other Interest" line, which specifies that it is for interest not on a 1098. I have mortgage interest on a 1098, but no place to enter it. Is there a reason why I was unable to claim mortgage interest on this rental last year but can this year? Is this an issue with the TurboTax product? I'd greatly appreciate any assistance.
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There is a screen in the rental section to report mortgage interest.
You do need to go to the rental summary screen and select the rental, then select Expenses.
Go to the rental Summary screen and select "Expenses"
It is shown whether you select "Walk me through it" or "I'll choose what I work on"
Thank you. Your product/view is much different than my view, but I found a way to "Add expense or asset" and select "Mortgage Interest."
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