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If I already reported the mortage interest on my property rental under the INCOME section, should I re-enter the same mortage interest for my rental property under my Deductions?
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You should enter your mortgage interest paid for a rental property, under the rental property deduction. Unless someone is paying you the mortgage interest, you should not enter this as income.
If your rental is part personal and part rental, then enter the mortgage interest first in the rental section and then review the mortgage interest section for the itemized deductions. This is found under: Federal Taxes >> Deductions & Credits >> Your Home >> Mortgage Interest, Refinancing, and Insurance. If you entered it here first, you can go in and delete it.
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