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June 3, 2019
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Principal balance for 2-family house

  • June 3, 2019
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I own a 2-family house where I live in one unit and rent the other.  In the personal deductions and credits section, when I enter the principal balance of my loan (both beginning and end-of-year) should I only enter the percentage which pertains to the owner-occupied unit?

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That's correct, you will want to save the other part for your Schedule E rental expenses,

1 reply

Answer
June 3, 2019

That's correct, you will want to save the other part for your Schedule E rental expenses,