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We moved during 2016 and turned our old personal residence into a rental property. Do I enter the mortgage and tax deduction in both the personal and business sections?

 
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PaulaM
Employee Tax Expert

We moved during 2016 and turned our old personal residence into a rental property. Do I enter the mortgage and tax deduction in both the personal and business sections?

Allocate each portion to personal/rental section. Ex: Lived in home for 9 months and rental for 3 months. Allocate 75% of interest as a personal deduction and 25% as a rental deduction. Navigate to each section to enter their proportionate share.

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PaulaM
Employee Tax Expert

We moved during 2016 and turned our old personal residence into a rental property. Do I enter the mortgage and tax deduction in both the personal and business sections?

Allocate each portion to personal/rental section. Ex: Lived in home for 9 months and rental for 3 months. Allocate 75% of interest as a personal deduction and 25% as a rental deduction. Navigate to each section to enter their proportionate share.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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