JeffreyR77
Expert Alumni

Investors & landlords

It depends. 

 

When did you purchase the new home and when did you convert the former primary residence to a rental? 

 

Your acquisition debt likely includes a part of the original primary residence note before you converted the property to a rental. 

 

After you converted it to a rental, the mortgage interest will be reported on Schedule E, not Schedule A. 

 

Prior to conversion, it will be reported on Schedule A.