The Deduction & Credits section for Mortgage's is confusing. It eventually ask if the mortgage is for Rental. Then it talks about filing a Schedule E. I do both?

Forum|Forum|3 years ago
February 16, 2023
2 replies
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Based on the path that Turbo Tax has lead me down, there is an unresolved issue. I need to determine if I should remove my 1098 information altogether from the deductions section. Because I believe all of my rental property mortgage info should only be captured in the schedule E section. But I am not sure.

TurboTax Self Employed Online

Best answer by MonikaK1

If you don't have a personal residence with mortgage interest, then remove any mortgage interest entries you have made from Deductions & Credits.

All rental income and expenses, including mortgage interest, are entered in the Rentals, Royalties, and Farm section of Wages & Income in TurboTax Online.

See this help article for more information from TurboTax on this topic.

MonikaK1Answer

If you don't have a personal residence with mortgage interest, then remove any mortgage interest entries you have made from Deductions & Credits.

All rental income and expenses, including mortgage interest, are entered in the Rentals, Royalties, and Farm section of Wages & Income in TurboTax Online.

See this help article for more information from TurboTax on this topic.

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