Hello! I know this can be simple.
My husband and I purchased the new home because of the job move, and renting out the old home. So, per say, we bought the new home in Jun, moved to the new place in Aug, and renting out the old home in Oct. (in the same state - CA) We started hiring property management company and put the ad out starting from Jul.
In this case, what period will be my primary residence from old place, and what period will be at the new place?
Tax gets little complicated because now I have to report the rental income and expense, and I want to know how I have to report for my property tax for this situation.
I know what I should consider for the rental income and rental expense (there is a lot of articles about it), but, I was confused about how to report the property tax that I paid for both house. What is considered for rental period, and what is considered for my living period in both house.
Can anyone help me on this questions?
I was searching for this in the internet, but I cannot find the answer exactly what I am asking for..
Turbo tax (home and business) does not guide me on this either.
Thank you in advance.
