- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
It depends. In order to deduct mortgage expense on Schedule E, your home would need to be rented out also. Otherwise it's a personal residence.
My advice is to keep it as a personal residence and itemize it on Schedule A.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 31, 2021
12:41 PM