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We converted our home to a rental property do we split the mortgage and taxes between income and deductions?
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posted
June 4, 2019
4:27 PM
last updated
June 04, 2019
4:27 PM
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We converted our home to a rental property do we split the mortgage and taxes between income and deductions?
Given the above information, you should divide your mortgage interest and property tax "50-50" between your rental expenses and your Schedule A, itemized deductions.
June 4, 2019
4:27 PM
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We converted our home to a rental property do we split the mortgage and taxes between income and deductions?
Still living in the home?
June 4, 2019
4:27 PM
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We converted our home to a rental property do we split the mortgage and taxes between income and deductions?
No it is still a rental property
June 4, 2019
4:27 PM
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We converted our home to a rental property do we split the mortgage and taxes between income and deductions?
Sorry, should have asked if you lived in the home in 2016?
June 4, 2019
4:27 PM
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We converted our home to a rental property do we split the mortgage and taxes between income and deductions?
We lived in the home for 173 days and it was rented out for 170 days
June 4, 2019
4:27 PM
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We converted our home to a rental property do we split the mortgage and taxes between income and deductions?
Given the above information, you should divide your mortgage interest and property tax "50-50" between your rental expenses and your Schedule A, itemized deductions.
June 4, 2019
4:27 PM
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