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I have purchased a new home and converted my old home into a rental. How Do I claim the new homes mortgage information separate from the old home?
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I have purchased a new home and converted my old home into a rental. How Do I claim the new homes mortgage information separate from the old home?
You will claim your new home Mortgage Interest as an Itemized Deduction for Schedule A.
The rental property Mortgage will be claimed as a Rental Expense, on Schedule E.
Here's more info to help you:
https://ttlc.intuit.com/replies/4209856
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