Rental property for part of the year, how do I report taxes and insurance premiums?

[thomas_osborn]

I have a new rental property. It was rented only the last 2 months of 2016. The first 9 months of 2016 it was my primary residence.  TurboTax is asking for real estate taxes and insurance premiums for my rental property. Am I to report 1/6th of the taxes and insurance paid for the rental since it was rented only 1/6th of the year?

[rasjr26]

For 2016, do I manually prorate and enter the amounts on 1098 and schedule E?

[view2]

You can deduct as rental expenses only the part of the expense that is for the part of the year the property was used or held for rental purposes.(Schedule E)

You cannot deduct depreciation or insurance for the part of the year the property was held for personal use. However, you can include the home mortgage interest and real estate tax expenses for the part of the year the property was held for personal use as an itemized deduction on Schedule A (Form 1040)

For depreciation purposes, treat the property as being placed in service (ready to rent) on the conversion date(Schedule E) 

Do the calculation and enter the correct amount to each .