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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.
‎February 24, 2021
4:33 PM