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Questions with turning primary residence into a rental this year
Hi, we moved in 2022 to a new home and turned our former primary residence into a rental. We moved in mid-September, and for the last three months of 2022 (October - December), we received rental income.
My question is whether to include the full property taxes and mortgage interest for 2022 on Schedule E, or whether I should try to pro-rate it. I can't find an option to do this on TurboTax.
And, as a follow-up, if I can't do that, can I take a deduction for part of my mortgage interest? I entered my 1098s (my mortgage was sold, so I have two) in the deductions page... but when prompted on TurboTax about whether this is my primary residence, I mark it as a rental and (I think) TurboTax then dismisses it.
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‎February 27, 2023
3:12 PM