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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1 Best answer
PaulaM
Expert Alumni
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
PaulaM
Expert Alumni
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.