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January 11, 2025
Question

The old home became our rental property part way through the year. Should I include the 1098 information in deductions or under income?

  • January 11, 2025
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    January 14, 2025

    The mortgage interest will be deductible.  You'll be prompted to enter it when you're entering your rental home information.  The deductible portion will be the portion paid while the home was a rental.  The remaining mortgage interest will be carried over to schedule A to be deductible if you itemize deductions.

     

    @simplyslik456 

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