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If I split the property 50/50, does that mean I can only deduct half the mortgage interest and property taxes on my personal return then?

The other half would all fall under rental expenses on Schedule E?

 

What happens when I sell?

Can I again only claim 50% of capital gain as tax free as a primary residence?

And where do I put the expenses I undertook for the renovation of the property?

Again 50/50?