Thank you, However we rent out just a portion of our home (23%) and live in the other portion. We take 23% of our Property Tax and Mortgage Interest as Rental Expense and the other 77% on our Schedule A (itemized deductions). When I posted this question I forgot that our State and Local Tax Schedule A deductions are capped at $10,000 which we exceed so doing what I was thinking would have no benefit for the property tax portion. However I am planning to take 100% of our Mortgage Interest deduction on Schedule A and 0% as a Rental Expense this year because we have an excess loss on our rental portion and it will not help us as a rental expense, but since we do itemize our Schedule A deductions it does help us there. Hope this makes sense.
