Hi
@Carl @Critter#2 Let me clarify. From Jan - Mar the house was a rental. (3 month). From April-December it was a primary residence (9 months). The Home office was used October-December.
Property Tax Payments were Made:
Payment 1- $3k - April
Payment 2- $3k - Nov
Payment 3- $3k - Nov (doubled up to take advantage of the most deduction for 2017 before new 2018 tax plan came into effect)
Question 1:
So if I have $10k in interest total, is the below breakdown correct?
Rental Property - Schedule E ((3/12)* $10k=$2.5k) in interest.
Primary Residence - Schedule A(9/12) * 10k=$7.5k) in interest.
2106 Home Office- (3/12)*$7.5k=1.875k in interest * Amount of house used
Question 2:
for the Primary Residence I listed above "Primary Residence - Schedule A(9/12) * 10k=$7.5k) in interest." the interest I am reporting for schedule A is $7.5k, my 1098 says $10k. DO I check the box that says this amount is different than is reported on my 1098? I just dont want to get audited for the wrong reason. I think the reason the IRS has this box is for misreported 1098, not for the splitting purpose I am doing, but just want to verify I do not Check this box.
Question 3:
Property Taxes:
From what I understand, property taxes are not prorated and are based on the day they are expensed. (I read this on several websites)
For this reason, I would take all 3 property tax payments on Schedule A. Is this correct?
For 2106 Home OFfice (3/12)* $9k= $2.25k*amount of house used.
Can you help me with each of the questions above separately so I dont get confused.
