Investors & landlords

This will be something you will need to compute yourself ... the program will not be helpful in this situation. 

 

The interest you paid while it was your personal residence goes on the Sch A  and the rest will go on the Sch E ... do a simple proration of the Mgt int, RE taxes and the Homeowner's insurance for the 2 schedules.

 

ALSO a couple of tips where most mistakes are made ...

1) you MUST list the assets and take depreciation ... it is NOT optional.

2) once you converted the home to a rental your PERSONAL use days are ZERO if you never used the home again personally once you converted it.