Thanks, @ThomasM125 !
I'm confused. I lived in the house alone from Jan-Nov and then rented the room for Dec while I continued to live there - I am converting it from personal use to rental, right? And my personal days are 334 and rental days are 31.
But I can't seem to reconcile those statements above with the On Demand Tax Guidance from TT:
Explain Personal Use
This means any day, whole or in part, your property was used by:
- You for personal purposes [I'm using this to declare my personal days as 334]
...
Not treated as personal use days:
...
- Days you used it as your main home before (or after) renting it, if the unit was rented 12 months or more or will be [but this seems to contradict that I can count 334 days since I will rent for 12 months, so should personal days be 0?]
...
In the year you convert your property from personal use to a rental, the days you lived in the home as your primary residence prior to conversion do NOT count as personal use days.
...
Which should it be 0 or 334?
Once I figure the personal day question I can then look at mortgage interest but it sound like you say I MUST deduct it.
Great to know I'll not worry about the vacation home misplaced value. The bottom line comes out the same. At least that question is solved. Thanks for your help with the last 2 issues.
