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How to deduct mortgage interest on a primary residence that became a rental partway through the year

Hello,

I own a home that was my primary residence for two months, vacant for eight months, then rented out for two months. Using the online version of TurboTax Premium for the 2024 tax year, I am able to enter the mortgage interest and property taxes as itemized deductions and include them on Schedule E along with the rental income, but it is unclear to me how to divide or pro-rate these deductions properly.

 

I have seen similar questions answered, but the TurboTax prompts relating to this scenario appear to have changed in the latest version, so any help would be very much appreciated!

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1 Reply
RobertB4444
Employee Tax Expert

How to deduct mortgage interest on a primary residence that became a rental partway through the year

The system will ask you questions about personal use and fair rental days.  Once you have entered that information then it will do the math for you to split up your deductions between personal and rental.

 

@jjhennessy 

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