1167164
Hi,
I have a rental & personal use combined property in MA, but after June 2019 I moved to CA, and the property became a rental property. I have mortgage interest for this property, total interest amount (including both rental & personal use) is $4,000. When comes to CA tax return, how much should I fill for California Deductible Mortgage Interest? the whole $4,000? or others?
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If you have a combined rental and personal use property, the expenses have to be divided between the business use (Schedule E) and personal use (Schedule A).
The same is true for the state return. For Mortgage Interest and Property Tax, you should not enter either one of those figures into the Deduction and Credits section of TurboTax. Rather, after entering the business and personal use in the Rental Property Profile, you should enter the Interest and Tax in the Expenses section of your Rental property. The balance of personal expenses will transfer to your deductions and credits on both the Federal and state returns.
Thanks, but I am asking whether this property mortgage interest is eligible for CA deductible mortgage interest, since the property is in MA, and how.
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