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I bought a house in June of 2018 for retirement in 2019. Are the expenses on this house deductible if I lived in a parsonage in 2018?

 
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KrisD
Intuit Alumni

I bought a house in June of 2018 for retirement in 2019. Are the expenses on this house deductible if I lived in a parsonage in 2018?

The expenses of a personal or second home are deductible (such as mortgage interest and property taxes) which are reported on a Schedule A. The amounts only affect the return if you Itemize Deductions rather than take the Standard Deduction. The expenses cannot be used on your Schedule C. 

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KrisD
Intuit Alumni

I bought a house in June of 2018 for retirement in 2019. Are the expenses on this house deductible if I lived in a parsonage in 2018?

The expenses of a personal or second home are deductible (such as mortgage interest and property taxes) which are reported on a Schedule A. The amounts only affect the return if you Itemize Deductions rather than take the Standard Deduction. The expenses cannot be used on your Schedule C. 

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