Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 26, 2024 5:21:40 PM

How to enter my mortgages?

I rented out my place and got a new place to live. But now, I am paying two mortgages, property taxes, strata and etc. . I can easily add my rental income and deduct taxes and maintenance fees and more from it, but where should I add the mortgage and property taxes of my current principal residence(second residence)? Should I just add it as a deductible to my rental income?

0 1 1342
1 Replies
Moderator
Feb 26, 2024 5:28:32 PM

You can't claim mortgage interest payments or other expenses from your principal residence unless you use the property for business, or you rent part of it out.