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shidosan4
New Member

Married Filling Joint, 2 kids, I refinanced my home last year and I still rent it out and I am not sure what to do different on my Schedule E

 
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1 Reply
KrisD15
Expert Alumni

Married Filling Joint, 2 kids, I refinanced my home last year and I still rent it out and I am not sure what to do different on my Schedule E

The only issue I see is the amount of interest that will be allocated to the rental, but the percentage should remain the same. 

If the entire home is rental and you refinanced the loan, enter the interest on schedule E. If you paid points, those will be deducted over the life of the new loan. If you had points left over from the previous loan, claim that expenses in the tax year you refinanced.  

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