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New Member
posted Jun 3, 2019 4:49:19 PM

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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Employee Tax Expert
Jun 3, 2019 4:49:20 PM

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.

1 Replies
Employee Tax Expert
Jun 3, 2019 4:49:20 PM

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.