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Returning Member
posted Feb 8, 2020 8:19:46 PM

Rented and owned home in 2019. How to I enter deductions for both?

My wife and I rented a home until May 1st. We also bought a home on March 1st, and did some remodeling until we moved into it on May 1st. I have enter all of my home owners information, but where do I enter and receive the credits for the time we rented?

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1 Replies
Expert Alumni
Feb 9, 2020 6:11:43 AM

There are no credits on the Federal return for time you rented a home.

 

Some states do offer a small credit for renting if your fit the criteria.  This credit would be in your state section,

 

The only items you can deduct for owning a home is the property taxes paid, mortgage interest paid, and mortgage insurance paid.

 

Link to Tax Aspects of Owning a Home