I moved out of my primary residence and rented it to my family.
Only to a certain extent, it doesn't matter who you rented it to. But the fact it's a relative "could" impact your carry over losses if you are not renting the property at FMRV.
I still pay a mortgage loan on the house, but don't see a section where I can enter that amount into TurboTax to deduct from the amount they pay for rent.
Your entire mortgage payment is not deductible under any circumstances and with no exceptions. It never has been, is not now and never will be. You can only claim/deduct the mortgage interest you paid, which is reported in box 1 of the 1098 - Mortgage Interest Statement you received from your lender.
When you convert your primary residence to a rental, I can't seem to stress enough to folks how super duper ultra important it is to work through the program the way it is designed and intended to be used, and to *read* *the* *small* *print* because it really does matter, big time. Paying attention to detail on each screen is also important, as there is a huge difference between "select all that apply" and "select the one that applies".
When converting personal use property (such as your primary residence or a 2nd home) to rental property, if you use the protram the way it's designed and intended to be used, it will do the splits *for you*. For example, your mortgage interest is all deductible. However, that percentage of mortgage interest paid while the property was a rental will be reported/deducted on SCH E. The remaining amount will be claimed on SCH A as an itemized deduction. The program will also do this automatically for your property taxes.
However (and this is why the small print matters) it will not do this for the property insurance. You can only deduct that percentage of the property insurance you paid for the year, that is equal to the percentage of time it was classified as a rental for that year. That portion of your propery taxes paid for the period of time it was personal use property is just flat out not deductible anywhere, ever.
If you'll take a look in the Rental & Royalty Income (SCH E) section of the program and start working it through, after you enter your rental income and expenses (which will include mortgage interest, property taxes and insurance) the next section will be Assets/Depreciation.
At an absolute minimum the entire property itself will be listed in the assets/deprecation section. If it is not, then you "MUST" click the Add An Asset button to add the property itself and pay attention to detail as you work it through.
If you do all this correctly, then when you get to the "Your Home" section under the Deductions & Credits tab, you will see that the portion of property taxes and mortgage interest has already be allocated and entered for you ****IF**** you elected the option to have the program do the splits for you, automatically.
I know I've provided a lot of information here. But the important thing is, have I answered your question? I think I have, but like to be sure.
