topic It seems that on my real home that I also rent out I am getting a double reduction on real estate taxes as my main home and as a vacation home. Is this correct? in Deductions & credits

It seems that on my real home that I also rent out I am getting a double reduction on real estate taxes as my main home and as a vacation home. Is this correct?

rpurdy9 — Fri, 31 Jan 2020 05:48:24 GMT

Re: It seems that on my real home that I also rent out I am getting a double reduction on real es...

AnnetteB6 — Fri, 31 Jan 2020 19:47:22 GMT

No, it is not correct.

You should only be deducting the total amount of real estate taxes paid one time. The total amount will be split between Schedule A for the personal use time and Schedule E for the rental use time.

If your main home is also being rented part of the year as a vacation home, then you would enter the property taxes in the Rental Income and Expenses section and check the box to carry the personal portion to Schedule A. That way, TurboTax will use the information you enter with regard to the days the house is rented to calculate the amount of property tax to allocate to the personal use and the rental use.

Re: It seems that on my real home that I also rent out I am getting a double reduction on real estate taxes as my main home and as a vacation home. Is this correct?

berry-ym — Mon, 20 Apr 2020 19:16:33 GMT

I am having the same issue. The mortgage interest and property tax amounts allocated to "personal" on Schedule E are not transferring properly to Schedule A. The amounts being transferred include the total amount I actually paid PLUS the "personal" amount calculated by Turbo Tax.