My mortgage interest received is already prorated for my Airbnb expense. Do I put the full amount under mortgage deduction or should it be reduced by the amount already used?

gianna-n-reese · ‎June 3, 2019

This is my primary residence, I rent out a room on Airbnb.

DanielV01 · ‎June 3, 2019

You are correct. You reduce the interest you can deduct on Schedule A (itemized "personal" deductions) from the amount of the mortgage interest you took on your rental. You actually get a little more deduction this way because the portion used for your rental income is a full deduction, whereas the amount you claim on Schedule A is dependent on whether your itemized deductions are greater than your standard deduction.

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My mortgage interest received is already prorated for my Airbnb expense. Do I put the full amount under mortgage deduction or should it be reduced by the amount already used?

Deductions & credits