@Gary39 wrote:
Thanks for the feedback, but are you sure? I see that Intuit's Employee Tax Expert says "only the part that you pay, i.e 1/2 in my case". I like your answer better, but I fear that his may be correct. Do you know of any IRS guidance on this subject? Thanks for the help!
You should be entering the amount received for the rent as income on your tax return. Then you can deduct the full amount of the mortgage interest paid as an itemized deduction on Schedule A.
