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Updated almost 10 years ago,
NEED HELP ASAP - tax deduction on rental property
hi everyone,
i could really use some help. i moved abroad last july and rented out my home in CA. therefore, i was in the home for 6 months and rented out for 6 months. i am trying to do my taxes on Turbotax right now and i am so confused about the choices in tax write offs for the rental. when i go to enter Property Tax and Mortgage Interest on the property, do i just enter the total amout of Interest and Tax, divide that by 12 and multiply by the months i had the property rented? the answer should be about 1/2 for both amounts since i lived in the home for 6 months and rented out for 6 months. does that sound right? i desperately need some advice before the deadline for taxes next week. any advice would be greatly appreciated. thank you so much for reading! :-)