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rfierro65
New Member

I began renting my home on July 1st 2016. On schedule E box 9,12,16, put amounts for the time rented? Or the whole year?

Do I calculate the amounts for boxes 9,12, and 16 by the 49.8% time the home was rented out? I lived in it the previous six months before renting it.

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TomD8
Level 15

I began renting my home on July 1st 2016. On schedule E box 9,12,16, put amounts for the time rented? Or the whole year?

You must pro-rate.  On Schedule E, only the portion of mortgage interest and property tax that applies to the rental period is entered.  The portion that applies to the period of personal use goes to Schedule A.  (Insurance covering the time of personal use is not deductible; but insurance applying to the time of rental use is deductible on Schedule E.)

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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1 Reply
TomD8
Level 15

I began renting my home on July 1st 2016. On schedule E box 9,12,16, put amounts for the time rented? Or the whole year?

You must pro-rate.  On Schedule E, only the portion of mortgage interest and property tax that applies to the rental period is entered.  The portion that applies to the period of personal use goes to Schedule A.  (Insurance covering the time of personal use is not deductible; but insurance applying to the time of rental use is deductible on Schedule E.)

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
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