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Investors & landlords
I have almost the exact same scenario as this post, and I don't think there was an answer in the reply. Would identifying the properties for mortgage tax deduction, Turbo tax wants you to identify the property before entering it for each. So Property A was lived in for most of the year in 2021 before moving out and buying Property B. Property A then rented out for a couple months, and Property B becomes primary residence. In this scenario, how do we identify each property? Is property A a "Primary Home" - it certainly was in 2021 until the end of year when Property B was purchased, and so is Property B also a "Primary Home" or a "Second Home"? There's also a third option for "Other" which is described as "rentals you don't live in...."
Thanks in advance.