AmyC
Expert Alumni

Deductions & credits

The IRS is accustomed to see one mortgage split between sch A and sch E. That is not a problem. The schedule A portion would be half the year subject to limitations during that time. For limitations, see Publication 936 (2021), Home Mortgage Interest Deduction - IRS

 

Example: Mortgage interest limited to 80% and 6 months. Then example interest of $30,000 would deduct on sch A as $30,000 x 80% times 1/2 year year = $12,000 deduction on sch A. 

 

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