taxnewbie03
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Going along with my example, I see TurboTax is calculating my mortgage interest deduction as 750K/(700K+1000K) or 44% ratio to the mortgage interest I paid (adj...
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Hi Carl. Does home acquisition debt include my converted rental home or just the new one that was purchased? Or is it the sum of both? That is really what I am ...
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Anyone have a sense what the home acquisition debt should be in this case? Once I know that, I will know how to proceed. Thank you!
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I did do the rental property section first. However, there were no options to allow the program to do the splits for me. Likewise, there is no small print in th...
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New home (1mm) purchased in June 2020. Converted rental home (700K) was available to rent September 2020 and rented November 2020. I have pro-rated the mortgage...
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- Got Cheered for I purchased a new home and converted the original home to a rental. For Schedule A, does "home acquisition debt" include the sum of both home loans or just the new home?. February 27, 2021 4:20 PM
- Got Cheered for Re: I purchased a new home and converted the original home to a rental. For Schedule A, does "home acquisition debt" include the sum of both home loans or just the new home?. February 27, 2021 4:17 PM
- Posted Re: I purchased a new home and converted the original home to a rental. For Schedule A, does "home acquisition debt" include the sum of both home loans or just the new home? on Investors & landlords. February 27, 2021 1:03 PM
- Posted Re: I purchased a new home and converted the original home to a rental. For Schedule A, does "home acquisition debt" include the sum of both home loans or just the new home? on Investors & landlords. February 27, 2021 12:52 PM
- Posted Re: I purchased a new home and converted the original home to a rental. For Schedule A, does "home acquisition debt" include the sum of both home loans or just the new home? on Investors & landlords. February 27, 2021 6:14 AM
- Posted Re: I purchased a new home and converted the original home to a rental. For Schedule A, does "home acquisition debt" include the sum of both home loans or just the new home? on Investors & landlords. February 24, 2021 7:33 PM
- Posted Re: I purchased a new home and converted the original home to a rental. For Schedule A, does "hom... on Investors & landlords. February 24, 2021 4:55 PM
- Posted I purchased a new home and converted the original home to a rental. For Schedule A, does "home acquisition debt" include the sum of both home loans or just the new home? on Investors & landlords. February 24, 2021 4:05 PM