thank you TurboTaxCaryW,
this is helpful. where I'm stuck is of the 3 properties, say A, B, and C
A - currently my primary residence and has been since the last 2 months of tax year 2013
B - my previous primary residence/current rental, ie. I live there for the first 10 months of tax year 2013, then rented it out for last 2 months once I moved to property A.
C - my second home where my in-law live and I don't collect rent
For mortgage interest, I was going to deduct A and B since they are/were my primary residences, however, the deductible interest for A is less than what I paid on C (where I've never lived in).
my question is, for the entirety of mortgage interest deduction since I can only deduct up to 2 properties, I will deduct
- 10 months of interest for residence B
- 12 months of interest for residence C (which is higher than A, my current primary residence)
is this correct?
thank you
