Thanks@rjs, over life of mortage, lot of interest amount which is not deducted from taxes would accumulate. Can it be added to cost basis of the property?
Thanks@Carl. I am going to follow 1.163T guidelines for deciding debt allocation for ADU and for debt payment tracing (personal debt is paid off before any debt...
Hi@Carl,Thanks a lot. I do __not__ think you mean that one can treat ADU as separate property and have it so in schedule E __only__ if it is detached ADU.
@Rick19744@CarlThanks for your comments. I appreciate the time spent by you to help the community.Regardless of how turbotax does it, I guess for IRS, ADU porti...
@Rick19744Thanks a lot.I assume turbotax does allow you to do 75:25 once you enter the right data about 25% being rental portion,Does turbo tax allow you to say...
