Partial Rental of Primary Residence

I bought a house on Sept 1, 2018. I lived here by myself for Sept and Oct and rented out 40% of my house to a tenant in Nov and Dec.

How do I divide/prorate the mortgage interest, property tax, expense between income section and deduction & credit?

Thanks in advance!

1169

Employee Tax Expert

Apr 16, 2019 5:36:48 AM

Here's one way;

2/4 months, or 50% = personal expense. Then 60% x the remaining shared expenses for the personal allocation. Rental would be 40% x shared expenses.

Ex: $4,000 mortgage interest

50% or $2000, is all personal. Then 60% of the remaining $2000 is personal = $1200. So $3200 total for personal share. The rest will be rental of $800.

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Partial Rental of Primary Residence