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be54066c25a6
Returning Member

Mortgage interest being counted too many times?

Is my mortgage interest is being counted for a deduction too many times? I rent out part of my home, so it's counted as a credit against the income for the portion of my home I rent out. I also list the complete portion as a homeowner from my 1098, and I also list it for the Mortgage Credit Certificate I have. My mortgage interest shows in my 'Your Home' portion for 'mortgage interest for personal use from Schedule E,' listed in the lender mortgage interest, and the Mortgage Credit Certificate. Am I counting my mortgage interest too many times?

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3 Replies
KrisD15
Expert Alumni

Mortgage interest being counted too many times?

To clarify

Are you entering the full amount of interest in the rental section of TurboTax.

If yes, are you reporting the rental as a percentage of your home?

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be54066c25a6
Returning Member

Mortgage interest being counted too many times?

Yes, I am entering the full amount of interest in the rental section of TurboTax, and I am reporting the rental as a percentage of my home.

RobertB4444
Expert Alumni

Mortgage interest being counted too many times?

@be54066c25a6  You should enter the mortgage interest only into the personal deduction page for your home.  Then go to the rental real estate section and set up the portion of your home for rent.  TurboTax will calculate the portion of your mortgage interest to carry over to schedule E.  

 

 

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