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New Member
posted May 31, 2019 9:23:55 PM

I moved in 2016 and rented my primary residence out when I left. I'm working on mortgage interest tax deduction. It asked me in 2 places...

Can I deduct a portion of the mortgage insurance for the period I lived in the house and then another portion during the rental period?

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1 Best answer
Expert Alumni
May 31, 2019 9:23:57 PM

Yes, if you rented your house to someone else after you moved out, you would report the rental income and expenses for the period it was rented under Rental Property and the allowable remainder as Itemized Deductions.

Two areas to take note:

  1. Be sure to check the box for "I converted this property from personal use..."
  2. Indicate that the property was not rented all year and enter the number of days it was rented (enter "personal days" only if you occupied the property while it was rented).

You will need to allocate your shared expenses for the year based on the number of days the property was rented. Enter the rental portion as rental expenses and the balance of mortgage interest, property taxes, and PMI under Deductions & Credits >> Your Home.

See the instructions below for more help entering income, expenses, and capital assets (building and improvements) for your Rental Property:

2 Replies
Expert Alumni
May 31, 2019 9:23:57 PM

Yes, if you rented your house to someone else after you moved out, you would report the rental income and expenses for the period it was rented under Rental Property and the allowable remainder as Itemized Deductions.

Two areas to take note:

  1. Be sure to check the box for "I converted this property from personal use..."
  2. Indicate that the property was not rented all year and enter the number of days it was rented (enter "personal days" only if you occupied the property while it was rented).

You will need to allocate your shared expenses for the year based on the number of days the property was rented. Enter the rental portion as rental expenses and the balance of mortgage interest, property taxes, and PMI under Deductions & Credits >> Your Home.

See the instructions below for more help entering income, expenses, and capital assets (building and improvements) for your Rental Property:

New Member
May 31, 2019 9:24:00 PM

This is extremely helpful!  Thank you so much for the detailed response.