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Level 1
June 4, 2019
Question

I rent my home. It has been rented the entire year. Do I only deduct mortage interest in the rental section or do i also deduct it in the home owner section?

  • June 4, 2019
  • 1 reply
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1 reply

MargaretL
Level 12
June 4, 2019

It depends. If you rented your entire home all year, mortgage interest, property tax are only deducted in the rental section.  If you rented part of your home, you must allocate the interest and property taxes between rental and personal (home owner section). For example, if you rented only half of the house, half of the above deductions will be reported in the rental section, the other half is entered as a home owner deduction.