1098-int from residence deducted on Sch E?

[AZ-Tax]

TP had to mortgage residence and used funds to improve rental since rental was a manf home and lender would not lend on manf home therefore I was planning on deducting this 1098-int secured by residence on Sch E, correct?

[Gretel]

Yes, but you must make a 10-T election, which is irrevocable.

[AZ-Tax]

Is there a 10-T form to use or how is this done?

Is therer a 10-T form to use or how does this process work and can be done at time of filing the tax return?

[newbie]

No form

You need to make the election - see if this helps:

http://www.thetaxbook.com/forums/showthread.php?t=12845&highlight=election+treat+mortgage+interest

[taxea]

AZ tax
check your program for the election...I'm sure it must be in there.