Here is the scenario, I am looking for a multi family for rental income, I have a 9 to 5 and make a decent amount, this will be one mortgage, I plan on living on one side and renting the other. My question is how do I write off my mortgage interest and property taxes? Do I throw all of it onto one side, or because I am dwelling in it to I write it off of my 1040 and schedule e on a pro rata bases. For example if the sq footage was 50/50, and the deductions are 10k in total for interest and property taxes, do I then write off 5k on my 1040, and 5I off of my schedule e? Thanks
