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April 13, 2023
Question

Mortgage Interest on a Rental

  • April 13, 2023
  • 1 reply
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Mortgage Interest on a Rental that I have only rented for 6 months. Do I need to input 50% of what my mortgage interest is from line 1 on form 1098 or do I enter the full amount for my Rental Properties and Royalties portion on Turbo Tax? 

1 reply

April 13, 2023

If you rented your property for only 6 months in 2022, you should only deduct 50% of the mortgage interest (and of property taxes) as Rental expenses.

 

The other 50% can be deducted as itemized deductions on Schedule A.

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