https://ttlc.intuit.com/community/taxes/discussion/rental-taxes-and-personal-taxes/01/3130134#M1148404 <P>Hi,</P><P>&nbsp;</P><P>Please correct me if i am wrong. I have a personal residence that i placed in service as a rental on April 1 2023. Will i deduct my mortgage interest as a percentage on my personal return and on schedule e based on the percentage of time used for the calendar year?</P><P>&nbsp;</P><P>This will thus lower my itemized deduction i cant take on my personal return and i will probably revert to taking the standard deduction, if its below the 13k for 2023 standard deduction.</P> Tue, 10 Feb 2026 10:02:38 GMT MrJenkins 2026-02-10T10:02:38Z https://ttlc.intuit.com/community/taxes/discussion/rental-taxes-and-personal-taxes/01/3130134#M1148404 <P>Hi,</P><P>&nbsp;</P><P>Please correct me if i am wrong. I have a personal residence that i placed in service as a rental on April 1 2023. Will i deduct my mortgage interest as a percentage on my personal return and on schedule e based on the percentage of time used for the calendar year?</P><P>&nbsp;</P><P>This will thus lower my itemized deduction i cant take on my personal return and i will probably revert to taking the standard deduction, if its below the 13k for 2023 standard deduction.</P> Tue, 10 Feb 2026 10:02:38 GMT https://ttlc.intuit.com/community/taxes/discussion/rental-taxes-and-personal-taxes/01/3130134#M1148404 MrJenkins 2026-02-10T10:02:38Z https://ttlc.intuit.com/community/taxes/discussion/re-rental-taxes-and-personal-taxes/01/3130176#M1148405 <P>Yes. 25% of mortgage interest would be an itemized deduction if you itemized and the rest is an expense on your rental. Same for property tax.&nbsp;<BR />As an aside, don’t forget to calculate depreciation which is required and often overlooked.&nbsp;</P> Sun, 14 Jan 2024 23:35:29 GMT https://ttlc.intuit.com/community/taxes/discussion/re-rental-taxes-and-personal-taxes/01/3130176#M1148405 Bsch4477 2024-01-14T23:35:29Z