davetodd11
Level 5
04-14-2020
01:41 PM
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I have a client who rents out a portion of their home. I am trying to allocate all direct expenses to the Schedule E, as well as a portion of indirect expenses (insurance, mortgage interest, taxes, utilities). Based on square footage of the rental portion compared to total house, and the number of days rented, I have calculated the applicable portion to be 15%. Depending on how I post the Form 1098 (either as Main Home or Rental Activity), and link it to the Schedule E, the taxes and interest either show up entirely on the Schedule A or Schedule E. Without actually overriding these figures, what is the proper method for posting a portion of these expenses to both the Schedule A and Schedule E?
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