Converted primary property into rental

[howard112]

As the line says, I converted my primary property into a rental. I as living there for the first ten months of the year. At the end of the year I got a 1098 from my lender.

When I was inputting my rental income on Turbo Tax, I deducted the mortgage interest I paid in the two months when it was a rental.

Then, when I got to the deduction section, I uploaded the 1098 I got from my lender and subtracted the amount I had put in earlier to offset my rental income. 

Is that the right way to do it?

[Mike9241]

Maybe. its ok if your mortgage balances didn't exceed the limit for acquisition debt. Generally, that's $750,000 for mortgages entered into after 12/15/2017. different rules apply if you had mortgages on a first or second residence that was incurred before that date. 

[Carl]

Is that the right way to do it?

Yes. That's one of the right ways to do it. Just ensure that your total of the interest claimed on SCH E and SCH A do not exceed the amount reported to you on the 1098. Just add together line 12 from the SCH E and line 8a of the SCH A. If the total matches the 1098, you're good.