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Allocate 1/2 of mortgage interest/taxes to each section. 1/2 deducted in the Rental section along with your other rental expenses, and 1/2 under deductions and credits on the personal side.
Note: Be certain to mark the box that you converted your property to rental or vice versa, in the Property Profile section for your rental.
Allocate 1/2 of mortgage interest/taxes to each section. 1/2 deducted in the Rental section along with your other rental expenses, and 1/2 under deductions and credits on the personal side.
Note: Be certain to mark the box that you converted your property to rental or vice versa, in the Property Profile section for your rental.
I bought a new house and moved into that house in March. I continued to make mortgage & interest payments on my (empty) previous house until it sold, in September of that year. Can I deduct mortgage interest on both homes during the months when my house was still on the market? or only on the house I was living in?
You posted this question to an old thread that is not even related to your own question. It is surprising that it is even being noticed.
You can enter mortgage interest and property taxes paid in 2018 for both your new home and the "old" one on your 2018 tax return. You just treat it as if you owned a second home--which you did.
You are subject to the SALT limit of $10,000 for the state and local taxes, which include your property taxes paid.
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