I rent a home in another city, but own a home elsewhere that my children live in. I still pay the mortgage and come and go as I please. However, I spend most time here?

Forum|Forum|3 years ago
January 20, 2023
1 reply
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I spend most of my time at the rental, but still pay the mortgage at my home.

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xmasbaby0

Employee

What is your question? You have not asked a question.

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philipwybleAuthor

Sorry... my question is do I consider the home that I pay the mortgage on a second home? Or is it my primary home since my children live there? Or something entirely different?

xmasbaby0

Employee

Why are you asking about "primary home?"---- that will come into play if and when you sell the house. Right now you can deduct mortgage interest and property tax on a primary and second home that you own. You cannot deduct rent on your federal return....and you say you rent a home in the other city.

RENT

There is not a rent deduction or credit on your Federal return. If your state has anything for renters you will be prompted to enter your rent info when you complete your state return. As far as I know, the states that have anything for rent are Arizona, California, Connecticut, Hawaii, Indiana, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, New York, Rhode Island, Vermont, Washington DC, and Wisconsin.