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SANJUN35
New Member

I live on 1/2 of my main property and rent the other 1/2, can I deduct 50% under the mortgage deduction summary

 
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Phillip1
New Member

I live on 1/2 of my main property and rent the other 1/2, can I deduct 50% under the mortgage deduction summary

Yes. 

In cases where you rent part of your primary residence, you are required to divide all your rental and personal deductible expenses between rental and personal usage. 50% of your mortgage interest would be deductible as a rental expense, and the other half would be deductible as the home mortgage interest expense deduction on Schedule A.

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Phillip1
New Member

I live on 1/2 of my main property and rent the other 1/2, can I deduct 50% under the mortgage deduction summary

Yes. 

In cases where you rent part of your primary residence, you are required to divide all your rental and personal deductible expenses between rental and personal usage. 50% of your mortgage interest would be deductible as a rental expense, and the other half would be deductible as the home mortgage interest expense deduction on Schedule A.

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