Sold rental property in May 2018 - how to make sure I get max mortage interest and property tax deduction?

[netterc]

Here are the specifics:

1. Purchased property #1 in 2005 for 325K and lived in it until June 2016
2. Purchased property #2 in June 2016 and made it my primary residence
3. Rented out property #1 from 8/2016 until 2/2018, i.e. collected rent for 1/2018 and 2/2018 and then put it up for sale.
4. Sold property #1 in May, 2018 for 460K
5. Paid a total $2000 in mortgage interest for Property #1 in 2018
6. Paid a total of $5000 in property taxes for Property #1 in 2018
7. Claimed about $10,000 in depreciation on Property #1 for 2016+2017 combined

How do I make sure I get the maximum deduction of mortgage interest and property taxed paid for property #1 in 2018?  I suppose I treat 2/5 of this as rental expense, since the property was rented out for 2 out of the 5 month I owned it in 2018?  What about the rest of the interest and prop tax?

Also, I suppose I need to claim 2 months' worth of depreciation as a rental expense in 2018, and then include this amount in the place where turbo tax ask me how much depreciation I claimed?

[netterc]

FYI, I filed for an extension in April (and paid the approx amount I had calculated at that time), so now I'm finalizing this so I can file the return.... 

[Carl]

Mortgage interest and property taxes are deductible no matter what the classifification of the property is. However, there are limits.

Mortgage interest and property taxes for the period of time it was classified as rental property are claimed/deducted on the SCH E.

Mortgage interest and property taxes for the period of time it was classified as personal use (such as your primary residence or 2nd home) are claimed/deducted on SCH A. Take into consideration the limits for SCH A deductions though.

 - Until the total of all deductions on your SCH A exceed your standard deduction, the SCH A deductions will have no impact what-so-ever on your tax liabiilty.

 - For the property taxes (not the mortgage interest) there is a maximum of $10K that you can deduct for that. The $10K limit is referred to as the SALT limit (State and Local Taxes). So the maximum amount of all State and Local Taxes you can claim/deduct on SCH A is $10K.

Finally, take note that property insurance is only deductible for the period of time the property was classified as a rental. Insurance is not deductible for the period of time the property was not classified as a rental.

As a warning, when the program asks you for days of personal use, read the small print so you will understand why I am telling you that you will enter ZERO days of personal use.