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How many months out of the year can I rent my primary residence and still claim it on my taxes as primary so I can deduct mortgage interest and prop tax? I live in CA
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How many months out of the year can I rent my primary residence and still claim it on my taxes as primary so I can deduct mortgage interest and prop tax? I live in CA
Doesn't matter how many months you rent, you can deduct all of the interest/property taxes in the year you paid them. You will need to allocate the expenses between the rental/personal sections.
Ex: Lived in home for 9 months and rental for 3 months. Allocate 75% of interest/property taxes as a personal deduction and 25% as a rental deduction.
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