Hello all, stumped here and could use some help. For most of 2021 I lived in a property that I owned since 2013. I purchased another primary residence in July of 2021, but still lived in the first home through August, it sat vacant for 2 months, and then was rented out starting in November of 2021. Going through Turbo Tax Premiere, it asked me about the rental and the conversion, to which I indicated it was rented at fair market value for 61 days (Nov and Dec 2021), and left it blank or zero for days of "personal use" in 2021 because the "Learn More" indicates that if you lived in the house prior to renting for 12 months or more or plan to, that's not considered "personal use." Ok fine, seems ok to that point...
Once I get to the "Your Home" part, should I be entering the 1098 mortgage interest information for the former primary residence as well as the new one? If so, how do I classify the properties? Is the former house I lived in most of 2021 my "primary house" and if so, is the house I bought in July of 2021 the "second house"? Or is the second house the "primary" and the former classified as "other," which includes rental properties, but if that's chosen, the mortgage interest deduction it's not reflecting the 10 months of mortgage interest I paid on that prior primary residence at all. That doesn't seem right, as it's a significant amount. Perhaps given the split time between the two for 2021, I do have a "second home" for purposes of the mortgage interest deduction? Jus want to make sure I'm maximizing my refund, the difference of not accounting for the mortgage interest on the first home changes my tax refund amount significantly (cuts in half).
Thanks in advance!
