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Get your taxes done using TurboTax
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?
‎January 26, 2022
11:43 AM