- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Thanks for the quick response.
So in this case, even though the property was available for rent starting Nov 1, for the question
"Was ABC rented every single day in 2022?" will be Yes?
In that case, how would I split the expense like Real estate taxes, Mortgage interest, HOA, Insurance given this property was my primary residence till Oct 31st. Should I prorate these monthly expenses for 2 months?
For the Real estate taxes and Mortgage interest on this property from Jan 1 to Oct31st, should I again prorate those and enter them as part of Deductions and Credit? Also, in the Deductions and Credit section for this property, how do I respond to :
What kind of property is this loan for?
-Primary home
This is where you live most of the time—can be a house, condo, mobile home, or other property types.
-Second home
This is usually a vacation home. It can be rented out part-time as long as you live there for a certain amount of time each year.
-Other
This includes rentals you don’t live in and business properties.
Same question for the new house that I bought and lived in from Nov 1 to Dec 31st ... will that be my Primary home, second home or other.
September 10, 2023
9:48 PM