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Enter the tax/interest under the rental property section if the property was rented all year. If you converted the property from personal to rental (or vice versa), then you will need to allocate between the two sections.
Ex: Lived in home for 9 months and rental for 3 months. Allocate 75% of interest/property taxes as a personal deduction and 25% as a rental deduction.
Enter your property under the Rental Properties and Royalties section. In the rental property section under your Property Profile, indicate that 2016 was the first year to rent the property and that you converted the home from personal to rental.
On the page, Was this Property rented for all of 2016?, select 'No', to open up the dialog box. Enter the rental use days and the personal use days.
Note: The personal use days means did you use the rental personally after it was placed in service (like a vacation property). Enter '0' if you did not use the property yourself after it was placed in service
After entering the rental portion of interest/property taxes, navigate to the Your Home section to enter the personal share of the 1098 form.
Enter the tax/interest under the rental property section if the property was rented all year. If you converted the property from personal to rental (or vice versa), then you will need to allocate between the two sections.
Ex: Lived in home for 9 months and rental for 3 months. Allocate 75% of interest/property taxes as a personal deduction and 25% as a rental deduction.
Enter your property under the Rental Properties and Royalties section. In the rental property section under your Property Profile, indicate that 2016 was the first year to rent the property and that you converted the home from personal to rental.
On the page, Was this Property rented for all of 2016?, select 'No', to open up the dialog box. Enter the rental use days and the personal use days.
Note: The personal use days means did you use the rental personally after it was placed in service (like a vacation property). Enter '0' if you did not use the property yourself after it was placed in service
After entering the rental portion of interest/property taxes, navigate to the Your Home section to enter the personal share of the 1098 form.
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