PaulaM
Employee Tax Expert

Investors & landlords

You will be allocating the rental/personal amounts of expenses. Ex: Lived in home for 9 months and rental for 3 months. Allocate 75% of interest/property taxes as a personal deduction and 25% as a rental deduction.

Enter your property under the Rental Properties and Royalties section.  In the rental property section under your Property Profile, indicate that 2016 was the first year to rent the property and that you converted the home from personal to rental (or vice versa).

On the page, Was this Property rented for all of 2016?, select 'No', to open up the dialog box. Enter the rental use days and the personal use days.

Note:  The personal use days means did you use the rental personally after it was placed in service (like a vacation property). Enter '0' if you did not use the property yourself after it was placed in service

After entering the rental portion of interest/property taxes, navigate to the Your Home section to enter the personal share of the 1098 form.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post