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Investors & landlords
If you were renting out the entire house, you would not enter days of personal use. If your house was a rental for the first half of 2024, the you would "dispose of" the rental property by indicating it was converted to personal use. You will enter 100% of the expenses for the period it was a rental (e.g. insurance, maintenance). Something that is paid annually, like property tax would be allocated. You would report half as a rental expense and half as an itemized deduction. For the interest, make two separate entries - one for the rental and one for the personal residence period.
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‎April 7, 2025
8:47 PM