04-05-2005, 07:55 AM
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 Re: Apportioning mortgage interest between Sch. A and Sch. E lindakoz1933[at]hotmail.com writes: - quote - > My question is, should I put the difference ($14000 - $4200
Only the difference. You don't get to double-dip.> = $9800) on my Sch. A for a deduction, or can I put in the > entire $14000 that I paid for the mortgage ? -- Rich Carreiro rlcarr[at]animato.arlington.ma.us << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
04-01-2005, 08:25 AM
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| Apportioning mortgage interest between Sch. A and Sch. E I own a condo. I stay in 1 room and rented out the other for the whole of 2004. I paid $14000.00 in mortgage interest last year. I'm taking a deduction in Sch. E for 30% of the mortgage i.e. $4200.00 against the rental income. (The 30% is based on room size.) My question is, should I put the difference ($14000 - $4200 = $9800) on my Sch. A for a deduction, or can I put in the entire $14000 that I paid for the mortgage ? Thanks in advance for the advice, Gregg. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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| apportioning, interest, mortgage, sch |
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