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iambobm
New Member

Do I split Interest and Property Tax 50/50 in Rental Expense Section and Personal Deductions & Credits Section if I lived in my house 6 months and rented it 6 months?

 
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PaulaM
Employee Tax Expert

Do I split Interest and Property Tax 50/50 in Rental Expense Section and Personal Deductions & Credits Section if I lived in my house 6 months and rented it 6 months?

Yes, exactly. Allocate to each section 1/2 of the property taxes and interest. 

Enter your property under the Rental Properties and Royalties section.  In the rental property section under your Property Profile, indicate that 2016 was the first year to rent the property and that you converted the home from personal to rental.

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1 Reply
PaulaM
Employee Tax Expert

Do I split Interest and Property Tax 50/50 in Rental Expense Section and Personal Deductions & Credits Section if I lived in my house 6 months and rented it 6 months?

Yes, exactly. Allocate to each section 1/2 of the property taxes and interest. 

Enter your property under the Rental Properties and Royalties section.  In the rental property section under your Property Profile, indicate that 2016 was the first year to rent the property and that you converted the home from personal to rental.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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