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Get your taxes done using TurboTax
1. Outstanding mortgage principal should be based on square footage. Take the square footage of the rental portion and divide it by the total square footage and multiply that percentage times the mortgage principal. The mortgage origination date doesn't change.
2. The same as the lender from your 1098.
3. "Fair rental days" doesn't mean days that there was someone in there renting it. It includes days where it was available for rent and ready to be rented. Even though no one showed up to rent it if you had the house clean and the ads out then it is available for rent and that is a 'fair rental day'.
@Cangoal
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March 24, 2025
8:55 AM