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Level 2
posted Jun 6, 2019 1:26:58 AM

Why is deductible interest form 1098 not reduced by amounts in business use of the home?

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1 Replies
Level 3
Jun 6, 2019 1:27:00 AM

If you used part of your home for business that produces taxable income, then the interest should be prorated.  

Depending on what kind of business you had, you can take a deduction either on Schedule C or E.

When it's entered in your C or E input, Turbo Tax asks you about usage.