Rental Taxes and personal taxes

[MrJenkins]

Hi,

Please correct me if i am wrong. I have a personal residence that i placed in service as a rental on April 1 2023. Will i deduct my mortgage interest as a percentage on my personal return and on schedule e based on the percentage of time used for the calendar year?

This will thus lower my itemized deduction i cant take on my personal return and i will probably revert to taking the standard deduction, if its below the 13k for 2023 standard deduction.

[Bsch4477]

Yes. 25% of mortgage interest would be an itemized deduction if you itemized and the rest is an expense on your rental. Same for property tax. 
As an aside, don’t forget to calculate depreciation which is required and often overlooked.