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New Member
posted Apr 1, 2025 8:17:53 PM

I have 2 properties that I rented for part of the year, and resided in part of the year. How do I allocate my deductions for mortgage interest?

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1 Replies
Expert Alumni
Apr 1, 2025 8:22:47 PM

For each property, you allocate the interest according the percentage of the year the property was used for each.  For example, let's you paid $6,000 in interest for property 1, and you lived in property for 4 months, and it was rented for 8 months.  You would allocate 66.6% of the interest ($4,000) to the rental, and 33% ($2,000) to personal.