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gianna-n-reese
New Member

My mortgage interest received is already prorated for my Airbnb expense. Do I put the full amount under mortgage deduction or should it be reduced by the amount already used?

This is my primary residence, I rent out a room on Airbnb.
1 Reply
DanielV01
Expert Alumni

My mortgage interest received is already prorated for my Airbnb expense. Do I put the full amount under mortgage deduction or should it be reduced by the amount already used?

You are correct.  You reduce the interest you can deduct on Schedule A (itemized "personal" deductions) from the amount of the mortgage interest you took on your rental.  You actually get a little more deduction this way because the portion used for your rental income is a full deduction, whereas the amount you claim on Schedule A is dependent on whether your itemized deductions are greater than your standard deduction.

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