We bought a second home this year and rented out our first home. Do we get to deduct the interest payments on our first home for when it was our primary residence?

jaybean15 · ‎June 4, 2019

TomD8 · ‎June 4, 2019

Yes. Mortgage interest attributable to the period of personal use is deductible as an itemized deduction on Schedule A. Mortgage interest attributable to the time of rental is deductible as a rental expense on Schedule E.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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TomD8 · ‎June 4, 2019

Yes. Mortgage interest attributable to the period of personal use is deductible as an itemized deduction on Schedule A. Mortgage interest attributable to the time of rental is deductible as a rental expense on Schedule E.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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We bought a second home this year and rented out our first home. Do we get to deduct the interest payments on our first home for when it was our primary residence?